Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman Sells 14,000 Shares

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $124,083,012.24. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steve Ladd Huffman also recently made the following trade(s):

• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total value of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $176.20, for a total transaction of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $141.79, for a total transaction of $1,985,060.00.
• On Friday, November 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $125.98, for a total value of $1,763,720.00.

Reddit Trading Up 6.5 %

NYSE:RDDT opened at $215.42 on Wednesday. The firm’s fifty day moving average price is $169.97 and its two-hundred day moving average price is $110.05. Reddit, Inc. has a one year low of $37.35 and a one year high of $218.25.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RDDT. Loop Capital increased their price objective on Reddit from $120.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. JMP Securities raised their price target on shares of Reddit from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Monday, January 27th. Roth Mkm lowered shares of Reddit from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Needham & Company LLC raised their target price on shares of Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Raymond James boosted their price target on shares of Reddit from $150.00 to $200.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp acquired a new stake in Reddit during the second quarter worth approximately $266,000. SG Americas Securities LLC acquired a new stake in Reddit during the 3rd quarter worth approximately $612,000. StoneCrest Wealth Management Inc. grew its holdings in Reddit by 2.6% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock valued at $451,000 after buying an additional 176 shares in the last quarter. Greenhouse Wealth Management LLC acquired a new position in Reddit in the 3rd quarter valued at $258,000. Finally, LifePro Asset Management acquired a new stake in shares of Reddit during the third quarter worth $2,389,000.

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.