Steve Ladd Huffman Sells 14,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00. Following the transaction, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $101,577,760.02. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Steve Ladd Huffman also recently made the following trade(s):

• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $176.20, for a total value of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $141.79, for a total value of $1,985,060.00.
• On Friday, November 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00.
• On Friday, November 1st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $113.13, for a total transaction of $1,583,820.00.
• On Tuesday, October 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00.

Reddit Stock Up 7.1 %

Shares of RDDT stock traded up $11.83 during trading hours on Friday, reaching $177.74. 9,429,420 shares of the company’s stock were exchanged, compared to its average volume of 6,752,960. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $182.20. The business has a fifty day moving average price of $144.44 and a 200-day moving average price of $91.96.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.23. The company had revenue of $348.40 million for the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business’s revenue was up 67.9% on a year-over-year basis. On average, equities analysts predict that Reddit, Inc. will post -3.46 EPS for the current year.

Institutional Investors Weigh In On Reddit

A number of institutional investors have recently bought and sold shares of RDDT. StoneCrest Wealth Management Inc. boosted its holdings in Reddit by 2.6% during the third quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after purchasing an additional 176 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Reddit during the 3rd quarter worth approximately $42,000. SOA Wealth Advisors LLC. lifted its position in shares of Reddit by 56.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock worth $126,000 after buying an additional 691 shares during the period. MML Investors Services LLC boosted its stake in Reddit by 12.0% in the 3rd quarter. MML Investors Services LLC now owns 7,085 shares of the company’s stock valued at $467,000 after buying an additional 757 shares in the last quarter. Finally, Vestor Capital LLC grew its position in Reddit by 1.1% in the third quarter. Vestor Capital LLC now owns 84,787 shares of the company’s stock valued at $5,589,000 after acquiring an additional 922 shares during the period.

Analyst Ratings Changes

RDDT has been the subject of a number of research reports. Loop Capital increased their price target on Reddit from $120.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Citigroup raised their target price on Reddit from $120.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. JMP Securities boosted their price target on shares of Reddit from $118.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday, November 25th. Robert W. Baird upped their price target on shares of Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, Raymond James lifted their price objective on shares of Reddit from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Reddit presently has an average rating of “Moderate Buy” and an average price target of $132.70.

About Reddit

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.