Jennifer L. Wong Sells 33,333 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong sold 33,333 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $176.23, for a total value of $5,874,274.59. Following the completion of the sale, the chief operating officer now owns 1,504,297 shares in the company, valued at $265,102,260.31. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Reddit Stock Performance

Reddit stock opened at $160.65 on Thursday. The business has a fifty day moving average of $123.90 and a two-hundred day moving average of $83.78. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $180.74.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $313.61 million. Reddit’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, equities analysts forecast that Reddit, Inc. will post -3.46 EPS for the current fiscal year.

Analyst Ratings Changes

RDDT has been the subject of several recent research reports. Sanford C. Bernstein lifted their price target on Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. JMP Securities boosted their target price on Reddit from $118.00 to $160.00 and gave the company a “market outperform” rating in a research report on Monday, November 25th. B. Riley restated a “buy” rating and issued a $112.00 price target (up from $87.00) on shares of Reddit in a research report on Wednesday, October 30th. Roth Mkm boosted their target price on Reddit from $89.00 to $116.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Loop Capital raised their price target on Reddit from $120.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. StoneCrest Wealth Management Inc. increased its position in Reddit by 2.6% during 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. Whittier Trust Co. purchased a new stake in shares of Reddit during the third quarter worth about $42,000. SOA Wealth Advisors LLC. increased its holdings in shares of Reddit by 56.3% during the third quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock valued at $126,000 after acquiring an additional 691 shares in the last quarter. MML Investors Services LLC raised its position in shares of Reddit by 12.0% in the 3rd quarter. MML Investors Services LLC now owns 7,085 shares of the company’s stock valued at $467,000 after purchasing an additional 757 shares during the last quarter. Finally, Vestor Capital LLC boosted its stake in Reddit by 1.1% in the 3rd quarter. Vestor Capital LLC now owns 84,787 shares of the company’s stock worth $5,589,000 after purchasing an additional 922 shares in the last quarter.

About Reddit

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.