Reddit, Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 11,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $124.08, for a total transaction of $1,364,880.00. Following the completion of the transaction, the chief technology officer now directly owns 281,213 shares of the company's stock, valued at $34,892,909.04. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Christopher Brian Slowe also recently made the following trade(s):
- On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $162.80, for a total transaction of $3,418,800.00.
- On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The stock was sold at an average price of $184.15, for a total transaction of $920,750.00.
Reddit Stock Down 4.3 %
Shares of Reddit stock opened at $120.07 on Thursday. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41. The company has a market capitalization of $21.72 billion and a price-to-earnings ratio of -15.53. The firm's 50-day moving average price is $168.60 and its two-hundred day moving average price is $136.54.
Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, sell-side analysts expect that Reddit, Inc. will post 1.12 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Loop Capital reissued a "buy" rating and set a $210.00 price target on shares of Reddit in a research report on Tuesday, March 11th. Citigroup reissued a "neutral" rating on shares of Reddit in a report on Thursday, February 13th. Redburn Atlantic initiated coverage on Reddit in a report on Monday, March 17th. They set a "sell" rating and a $75.00 price target for the company. Roth Mkm downgraded shares of Reddit from a "buy" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $195.00 in a report on Wednesday, January 22nd. Finally, Redburn Partners set a $75.00 price objective on shares of Reddit in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $167.86.
View Our Latest Analysis on Reddit
Hedge Funds Weigh In On Reddit
Institutional investors have recently modified their holdings of the business. Prospera Financial Services Inc acquired a new stake in Reddit in the third quarter valued at about $248,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Reddit by 194.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 503,321 shares of the company's stock worth $33,179,000 after acquiring an additional 332,604 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Reddit in the 3rd quarter valued at approximately $446,000. Kingsview Wealth Management LLC bought a new stake in shares of Reddit during the 3rd quarter valued at approximately $251,000. Finally, Penserra Capital Management LLC increased its position in Reddit by 63.1% during the 3rd quarter. Penserra Capital Management LLC now owns 48,945 shares of the company's stock worth $3,226,000 after purchasing an additional 18,932 shares in the last quarter.
About Reddit
(
Get Free Report)
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.
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