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 Reddit stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $172.79, for a total value of $2,419,060.00. Following the transaction, the chief executive officer now owns 614,394 shares of the company’s stock, valued at $106,161,139.26. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $165.33, for a total value of $2,314,620.00.
• 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 shares were 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 value 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 value of $1,583,820.00.

Reddit Trading Up 0.4 %

Shares of NYSE RDDT opened at $175.57 on Friday. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $187.69. The stock has a fifty day moving average price of $158.06 and a 200 day moving average price of $100.43.

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

Analyst Ratings Changes

Several brokerages have weighed in on RDDT. The Goldman Sachs Group boosted their price target on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Needham & Company LLC upped their price objective on Reddit from $120.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. B. Riley upped their price objective on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Raymond James upped their price objective on Reddit from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.25.

Institutional Trading of Reddit

Several large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its stake in shares of Reddit by 31.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,786 shares of the company’s stock valued at $1,436,000 after acquiring an additional 2,096 shares in the last quarter. West Branch Capital LLC acquired a new stake in shares of Reddit during the fourth quarter valued at about $245,000. Harbor Investment Advisory LLC acquired a new stake in shares of Reddit during the fourth quarter valued at about $147,000. UMB Bank n.a. grew its stake in shares of Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after acquiring an additional 150 shares in the last quarter. Finally, LVW Advisors LLC acquired a new position in Reddit in the fourth quarter worth about $327,000.

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.