Reddit, Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 5,068 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $111.28, for a total value of $563,967.04. Following the completion of the sale, the chief technology officer now directly owns 20,184 shares in the company, valued at approximately $2,246,075.52. The trade was a 20.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Christopher Brian Slowe also recently made the following trade(s):
- On Tuesday, April 22nd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $99.75, for a total value of $1,097,250.00.
- On Monday, March 24th, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The stock was sold at an average price of $124.08, for a total transaction of $1,364,880.00.
- 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.
Reddit Stock Up 4.6 %
Shares of Reddit stock opened at $112.07 on Friday. The firm has a market cap of $20.27 billion and a PE ratio of -14.50. Reddit, Inc. has a 52 week low of $40.85 and a 52 week high of $230.41. The business's fifty day simple moving average is $123.49 and its 200-day simple moving average is $141.32.
Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. As a group, equities analysts expect that Reddit, Inc. will post 1.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Reddit from $185.00 to $124.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reissued a "buy" rating and set a $220.00 target price on shares of Reddit in a report on Friday, March 21st. JMP Securities set a $155.00 price target on Reddit in a research note on Friday, March 28th. Morgan Stanley dropped their price target on Reddit from $210.00 to $140.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price objective on Reddit from $215.00 to $158.00 and set an "overweight" rating on the stock in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.22.
Check Out Our Latest Analysis on RDDT
Institutional Trading of Reddit
Several institutional investors have recently added to or reduced their stakes in RDDT. Plato Investment Management Ltd acquired a new position in Reddit during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC acquired a new position in Reddit during the 4th quarter worth about $28,000. Ridgewood Investments LLC lifted its stake in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company's stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Reddit during the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new position in Reddit in the 4th quarter valued at about $33,000.
Reddit Company Profile
(
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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