Reddit (NYSE:RDDT) CTO Sells $1,297,225.00 in Stock

Key Points

• CTO sale: Reddit CTO Christopher Brian Slowe sold 9,500 shares on March 9 at an average price of $136.55 for $1,297,225, leaving him with 183,057 shares (a 4.93% reduction, roughly $25.0M remaining).
• Pattern of insider selling: The March sale is part of multiple recent large disposals by Slowe (e.g., Feb 23: 19,036 shares at $144.05; Feb 10: 11,464 at $149.74; Jan and Dec sales), signaling sustained insider selling activity.
• Company fundamentals: Reddit recently posted an earnings beat (EPS $1.24 vs. $0.96) and revenue of $725.6M (up 69.7% YoY); the stock trades near $137 while analysts' consensus is a "Moderate Buy" with an average target of $236.

Reddit Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 9,500 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $136.55, for a total value of $1,297,225.00. Following the completion of the sale, the chief technology officer directly owned 183,057 shares in the company, valued at approximately $24,996,433.35. The trade was a 4.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Christopher Brian Slowe also recently made the following trade(s):

• On Monday, February 23rd, Christopher Brian Slowe sold 19,036 shares of Reddit stock. The stock was sold at an average price of $144.05, for a total transaction of $2,742,135.80.
• On Tuesday, February 10th, Christopher Brian Slowe sold 11,464 shares of Reddit stock. The shares were sold at an average price of $149.74, for a total transaction of $1,716,619.36.
• On Thursday, January 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $212.61, for a total transaction of $2,976,540.00.
• On Thursday, January 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $253.88, for a total transaction of $3,554,320.00.
• On Monday, December 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $233.53, for a total value of $3,269,420.00.

Reddit Stock Up 2.3%

Shares of Reddit stock traded up $3.11 during trading on Wednesday, hitting $137.24. 5,038,975 shares of the stock traded hands, compared to its average volume of 5,447,372. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The firm's fifty day moving average is $183.61 and its 200-day moving average is $206.64. The stock has a market cap of $26.22 billion, a price-to-earnings ratio of 51.19, a PEG ratio of 0.98 and a beta of 2.40.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.96 by $0.28. The company had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm's quarterly revenue was up 69.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. On average, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Reddit

Several large investors have recently modified their holdings of the company. Resona Asset Management Co. Ltd. increased its holdings in Reddit by 53.2% during the third quarter. Resona Asset Management Co. Ltd. now owns 30,944 shares of the company's stock valued at $7,166,000 after buying an additional 10,743 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Reddit by 12.9% in the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company's stock worth $2,814,734,000 after buying an additional 1,401,293 shares during the period. Optimize Financial Inc purchased a new position in shares of Reddit during the 3rd quarter valued at about $1,420,000. WT Asset Management Ltd bought a new position in shares of Reddit in the third quarter worth approximately $92,973,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Reddit by 95.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,139 shares of the company's stock worth $3,712,000 after buying an additional 7,881 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently commented on RDDT shares. UBS Group set a $265.00 price target on shares of Reddit in a report on Tuesday, January 13th. Roth Mkm increased their target price on shares of Reddit from $210.00 to $215.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. B. Riley Financial boosted their price target on Reddit from $245.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 6th. Cantor Fitzgerald lowered their price target on Reddit from $240.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, February 6th. Finally, Morgan Stanley set a $240.00 price objective on Reddit in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Reddit has an average rating of "Moderate Buy" and an average target price of $236.00.

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

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