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

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $160.30, for a total value of $2,244,200.00. Following the transaction, the chief executive officer now directly owns 597,515 shares of the company’s stock, valued at approximately $95,781,654.50. This trade represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 value of $2,628,920.00.
• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $201.96, for a total value of $2,827,440.00.
• 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 value of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $176.20, for a total value of $2,466,800.00.

Reddit Trading Down 1.8 %

Reddit stock traded down $2.89 during mid-day trading on Tuesday, hitting $159.56. 7,771,959 shares of the company’s stock were exchanged, compared to its average volume of 5,449,303. The stock has a market cap of $28.87 billion and a P/E ratio of -20.64. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The stock has a 50 day moving average of $183.09 and a two-hundred day moving average of $129.49.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) 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 predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Reddit

Several hedge funds and other institutional investors have recently made changes to their positions in RDDT. Plato Investment Management Ltd acquired a new stake in shares of Reddit in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Reddit in the fourth quarter valued at about $28,000. Ridgewood Investments LLC lifted its stake in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the period. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit in the fourth quarter valued at about $33,000. Finally, Bogart Wealth LLC bought a new stake in shares of Reddit in the fourth quarter valued at about $33,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of analyst reports. B. Riley increased their target price on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Robert W. Baird increased their target price on Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Bank of America increased their target price on Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Raymond James lifted their target price on Reddit from $200.00 to $250.00 and gave the company a “strong-buy” rating in a report on Monday, February 10th. Finally, Loop Capital lifted their target price on Reddit from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has given 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 $175.95.

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.