Christopher Brian Slowe Sells 11,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 11,000 shares of Reddit stock in a transaction on Monday, March 24th. The shares were sold at an average price of $124.08, for a total value of $1,364,880.00. Following the sale, the chief technology officer now directly owns 281,213 shares of the company's stock, valued at $34,892,909.04. This represents a 3.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $162.80, for a total transaction of $3,418,800.00.
• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The shares were sold at an average price of $184.15, for a total transaction of $920,750.00.

Reddit Trading Down 2.4 %

Reddit stock traded down $2.66 during mid-day trading on Friday, hitting $107.57. The company had a trading volume of 7,989,929 shares, compared to its average volume of 5,310,071. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $230.41. The stock's 50 day moving average price is $165.95 and its two-hundred day moving average price is $137.27. The company has a market capitalization of $19.46 billion and a PE ratio of -13.92.

Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Equities research analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in Reddit in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Reddit during the 4th quarter valued at about $28,000. Ridgewood Investments LLC grew 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 worth $33,000 after acquiring an additional 100 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit during the fourth quarter valued at approximately $33,000. Finally, Bogart Wealth LLC bought a new position in Reddit during the fourth quarter valued at approximately $33,000.

Analyst Ratings Changes

Several research firms recently commented on RDDT. JPMorgan Chase & Co. increased their target price on shares of Reddit from $142.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. B. Riley raised their price objective on Reddit from $112.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Roth Mkm cut Reddit from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $116.00 to $195.00 in a research note on Wednesday, January 22nd. Robert W. Baird boosted their price objective on shares of Reddit from $160.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn upgraded Reddit to a "hold" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Reddit presently has an average rating of "Moderate Buy" and a consensus target price of $165.71.

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.