Reddit, Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 124,408 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $127.36, for a total value of $15,844,602.88. Following the sale, the chief executive officer now directly owns 583,515 shares of the company's stock, valued at $74,316,470.40. The trade was a 17.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Steve Ladd Huffman also recently made the following trade(s):
- On Friday, February 28th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $160.30, for a total value of $2,244,200.00.
- 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 stock was sold at an average price of $165.33, for a total value of $2,314,620.00.
Reddit Price Performance
NYSE:RDDT traded up $6.71 during mid-day trading on Friday, reaching $115.46. 7,971,329 shares of the company's stock traded hands, compared to its average volume of 5,518,548. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41. The firm has a market capitalization of $20.89 billion and a price-to-earnings ratio of -14.94. The company has a 50 day moving average price of $171.19 and a 200-day moving average price of $135.16.
Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Seaport Res Ptn raised Reddit to a "hold" rating in a report on Thursday, February 6th. Raymond James cut their price target on Reddit from $250.00 to $200.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 12th. B. Riley lifted 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. Morgan Stanley lifted their price objective on Reddit from $200.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Redburn Atlantic initiated coverage on Reddit in a research note on Monday, March 17th. They set a "sell" rating and a $75.00 price objective for the company. Two investment analysts have 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. According to data from MarketBeat.com, Reddit has an average rating of "Hold" and an average target price of $162.68.
Get Our Latest Stock Analysis on Reddit
Institutional Trading of Reddit
Several large investors have recently bought and sold shares of RDDT. Prospera Financial Services Inc bought a new stake in Reddit during the 3rd quarter valued at approximately $248,000. AlpInvest Partners B.V. bought a new stake in Reddit during the 3rd quarter valued at approximately $4,688,000. Charles Schwab Investment Management Inc. boosted its position in Reddit by 194.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 503,321 shares of the company's stock valued at $33,179,000 after acquiring an additional 332,604 shares in the last quarter. GM Advisory Group LLC bought a new stake in Reddit during the 3rd quarter valued at approximately $255,000. Finally, Meridian Wealth Management LLC boosted its position in Reddit by 29.7% during the 3rd quarter. Meridian Wealth Management LLC now owns 45,650 shares of the company's stock valued at $3,009,000 after acquiring an additional 10,466 shares in the last quarter.
About Reddit
(
Get Free Report)
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.
Featured Stories
Before you consider Reddit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.
While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
