Reddit, Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $103.28, for a total value of $1,445,920.00. Following the completion of the transaction, the chief executive officer now directly owns 577,013 shares in the company, valued at approximately $59,593,902.64. This represents a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Steve Ladd Huffman also recently made the following trade(s):
- On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total transaction of $15,844,602.88.
- On Friday, February 28th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $160.30, for a total transaction 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 shares were sold at an average price of $201.96, for a total transaction 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 transaction of $2,419,060.00.
Reddit Trading Down 10.5 %
Shares of NYSE:RDDT traded down $10.18 during midday trading on Friday, reaching $86.72. The company had a trading volume of 13,250,214 shares, compared to its average volume of 5,375,996. The stock has a market cap of $15.69 billion and a P/E ratio of -11.22. The company's 50 day moving average price is $157.86 and its 200 day moving average price is $139.25. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41.
Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. Research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.
Institutional Trading of Reddit
Several hedge funds have recently made changes to their positions in RDDT. Jennison Associates LLC bought a new stake in Reddit in the 4th quarter valued at about $494,861,000. Renaissance Capital LLC raised its position in shares of Reddit by 14.2% in the fourth quarter. Renaissance Capital LLC now owns 31,236 shares of the company's stock valued at $5,105,000 after purchasing an additional 3,892 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Reddit by 27.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,456 shares of the company's stock valued at $105,003,000 after buying an additional 139,135 shares in the last quarter. Assetmark Inc. boosted its holdings in Reddit by 1,537,566.7% in the 4th quarter. Assetmark Inc. now owns 46,130 shares of the company's stock worth $7,539,000 after buying an additional 46,127 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Reddit by 3,640.5% in the 3rd quarter. Wellington Management Group LLP now owns 255,325 shares of the company's stock worth $16,831,000 after buying an additional 248,499 shares during the period.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of Reddit to a "hold" rating in a research report on Thursday, February 6th. The Goldman Sachs Group increased their price target on Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Loop Capital restated a "buy" rating and set a $210.00 price objective on shares of Reddit in a report on Tuesday, March 11th. JMP Securities set a $155.00 target price on Reddit in a report on Friday, March 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Reddit in a research note on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Reddit presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.00.
Check Out Our Latest Research Report on RDDT
Reddit Company Profile
(
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.
Further Reading
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
