Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero Sells 100,000 Shares

Reddit, Inc. (NYSE:RDDT - Get Free Report) CFO Andrew Vollero sold 100,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $124.08, for a total value of $12,408,000.00. Following the sale, the chief financial officer now directly owns 499,295 shares of the company's stock, valued at approximately $61,952,523.60. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Andrew Vollero also recently made the following trade(s):

• On Monday, February 24th, Andrew Vollero sold 48,122 shares of Reddit stock. The stock was sold at an average price of $162.80, for a total value of $7,834,261.60.

Reddit Stock Performance

Shares of NYSE RDDT traded down $2.66 during mid-day trading on Friday, hitting $107.57. 7,989,929 shares of the stock were exchanged, compared to its average volume of 5,310,071. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The stock's fifty day simple moving average is $165.95 and its two-hundred day simple moving average is $137.27. The company has a market cap of $19.46 billion and a P/E ratio of -13.92.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly 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 return on equity of 24.71% and a negative net margin of 37.25%. As a group, equities research analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on RDDT shares. JPMorgan Chase & Co. increased their price objective on Reddit from $142.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Guggenheim lowered their price target on shares of Reddit from $210.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Piper Sandler boosted their price objective on shares of Reddit from $210.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Roth Capital downgraded shares of Reddit from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Reddit in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Reddit presently has a consensus rating of "Moderate Buy" and an average target price of $165.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd bought a new position in Reddit in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of Reddit during the fourth quarter valued at $28,000. Ridgewood Investments LLC boosted its holdings in 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 acquiring an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Reddit in the fourth quarter worth about $33,000. Finally, Bogart Wealth LLC bought a new stake in Reddit during the 4th quarter worth about $33,000.

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.