Reddit, Inc. (NYSE:RDDT) COO Sells $4,173,958.26 in Stock

Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong sold 33,333 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $125.22, for a total transaction of $4,173,958.26. Following the completion of the sale, the chief operating officer now directly owns 1,466,119 shares of the company’s stock, valued at approximately $183,587,421.18. The trade was a 2.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Reddit Stock Down 0.4 %

Shares of NYSE RDDT traded down $0.49 during midday trading on Wednesday, hitting $109.62. The stock had a trading volume of 9,490,917 shares, compared to its average volume of 5,715,228. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The company has a market capitalization of $19.83 billion and a price-to-earnings ratio of -14.18. The company has a fifty day moving average price of $173.50 and a 200 day moving average price of $134.41.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping 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%. On average, research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC lifted its holdings in shares of 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 buying an additional 100 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Reddit by 2.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock valued at $966,000 after purchasing an additional 120 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Reddit by 148.5% during the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 147 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after purchasing an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock valued at $870,000 after purchasing an additional 155 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Loop Capital reissued a “buy” rating and issued a $210.00 price target on shares of Reddit in a report on Tuesday, March 11th. Morgan Stanley upped their price objective on shares of Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. B. Riley upped their target price on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Reddit from $142.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Robert W. Baird upped their target price 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.50.

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.