Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 5,000 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 5,000 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total transaction of $387,400.00. Following the sale, the chief technology officer now owns 30,068 shares of the company’s stock, valued at approximately $2,329,668.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Brian Slowe also recently made the following trade(s):

• On Monday, September 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $65.56, for a total transaction of $721,160.00.
• On Tuesday, August 20th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $53.99, for a total transaction of $1,133,790.00.

Reddit Price Performance

NYSE RDDT traded up $0.94 on Thursday, hitting $78.62. 2,173,475 shares of the company were exchanged, compared to its average volume of 4,391,989. The company’s 50 day moving average price is $64.58 and its 200-day moving average price is $59.69. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $81.36.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.25. The company had revenue of $281.20 million for the quarter, compared to analyst estimates of $253.86 million. Reddit’s quarterly revenue was up 53.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.70) EPS. On average, analysts predict that Reddit, Inc. will post -4.1 EPS for the current year.

Hedge Funds Weigh In On Reddit

A number of large investors have recently made changes to their positions in RDDT. BNP Paribas Financial Markets acquired a new position in shares of Reddit in the 1st quarter valued at about $37,000. Whittier Trust Co. acquired a new position in shares of Reddit in the 3rd quarter valued at about $42,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Reddit in the 1st quarter valued at about $63,000. SOA Wealth Advisors LLC. acquired a new position in shares of Reddit in the 2nd quarter valued at about $78,000. Finally, Sandia Investment Management LP acquired a new position in shares of Reddit in the 1st quarter valued at about $79,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RDDT. JPMorgan Chase & Co. boosted their price target on shares of Reddit from $59.00 to $77.00 and gave the company a “neutral” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their price objective on shares of Reddit from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Piper Sandler upped their price objective on shares of Reddit from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley upped their price objective on shares of Reddit from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Reddit from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.78.

Reddit Company Profile

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.