Reddit, Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 124,408 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $96.65, for a total value of $12,024,033.20. Following the transaction, the chief executive officer now owns 577,013 shares of the company's stock, valued at approximately $55,768,306.45. The trade was a 17.74 % decrease in their position. 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, March 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $103.28, for a total value of $1,445,920.00.
- On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total transaction of $15,844,602.88.
- On Friday, February 28th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $160.30, for a total transaction of $2,244,200.00.
- On Tuesday, February 18th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $187.78, for a total transaction of $2,628,920.00.
- On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00.
Reddit Price Performance
Shares of RDDT opened at $96.04 on Friday. The company's fifty day moving average price is $133.84 and its 200-day moving average price is $140.17. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The firm has a market capitalization of $17.37 billion and a PE ratio of -12.42.
Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, research analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
RDDT has been the subject of a number of research analyst reports. Roth Mkm cut Reddit from a "buy" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Reddit in a research note on Friday, March 21st. Morgan Stanley cut their target price on shares of Reddit from $210.00 to $140.00 and set an "overweight" rating on the stock in a research report on Thursday. Seaport Res Ptn raised shares of Reddit to a "hold" rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Reddit from $185.00 to $110.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.22.
View Our Latest Analysis on RDDT
Hedge Funds Weigh In On Reddit
A number of institutional investors have recently bought and sold shares of RDDT. WD Rutherford LLC acquired a new stake in shares of Reddit in the first quarter worth $208,000. QRG Capital Management Inc. purchased a new position in shares of Reddit during the 1st quarter valued at about $368,000. Sowell Financial Services LLC acquired a new position in shares of Reddit in the 1st quarter valued at about $739,000. Janney Montgomery Scott LLC boosted its stake in shares of Reddit by 4.5% in the first quarter. Janney Montgomery Scott LLC now owns 9,183 shares of the company's stock worth $963,000 after buying an additional 397 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new stake in Reddit during the first quarter worth about $1,081,000.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
