Reddit, Inc. (NYSE:RDDT) CTO Sells $920,750.00 in Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total transaction of $920,750.00. Following the completion of the transaction, the chief technology officer now directly owns 35,252 shares of the company’s stock, valued at $6,491,655.80. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $169.85, for a total transaction of $1,868,350.00.
• On Friday, November 22nd, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $146.01, for a total value of $3,066,210.00.

Reddit Stock Up 0.1 %

NYSE:RDDT traded up $0.25 on Friday, hitting $182.24. The stock had a trading volume of 3,920,665 shares, compared to its average volume of 4,830,885. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $191.00. The business’s fifty day moving average is $162.23 and its 200 day moving average is $103.46.

Reddit (NYSE:RDDT) last issued its earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. The company had revenue of $348.40 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, research analysts forecast that Reddit, Inc. will post -3.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on RDDT shares. Jefferies Financial Group lifted their target price on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. B. Riley boosted their price objective on shares of Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Robert W. Baird raised their target price on Reddit from $100.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. JMP Securities upped their price target on Reddit from $118.00 to $160.00 and gave the company a “market outperform” rating in a research report on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their price objective on Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.20.

Institutional Investors Weigh In On Reddit

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Reddit by 302.8% during the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock valued at $801,428,000 after purchasing an additional 9,139,196 shares during the last quarter. VY Capital Management Co. Ltd. purchased a new stake in Reddit during the third quarter worth about $474,403,000. Jennison Associates LLC bought a new stake in Reddit in the fourth quarter worth about $494,861,000. Point72 Asset Management L.P. boosted its stake in Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock valued at $151,357,000 after acquiring an additional 2,225,895 shares during the last quarter. Finally, Holocene Advisors LP grew its position in shares of Reddit by 177.6% during the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock valued at $198,154,000 after acquiring an additional 1,923,109 shares during the period.

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.