Andrew Vollero Sells 3,674 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CFO Andrew Vollero sold 3,674 shares of the company’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $261.21, for a total value of $959,685.54. Following the sale, the chief financial officer owned 251,644 shares of the company’s stock, valued at approximately $65,731,929.24. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 9th, Andrew Vollero sold 300 shares of Reddit stock. The stock was sold at an average price of $260.68, for a total value of $78,204.00.
• On Wednesday, January 7th, Andrew Vollero sold 500 shares of Reddit stock. The stock was sold at an average price of $260.06, for a total value of $130,030.00.
• On Tuesday, January 6th, Andrew Vollero sold 8,413 shares of Reddit stock. The shares were sold at an average price of $252.72, for a total value of $2,126,133.36.

Reddit Stock Performance

Shares of Reddit stock traded up $14.90 on Tuesday, reaching $258.92. The stock had a trading volume of 4,511,676 shares, compared to its average volume of 3,312,058. The stock has a market cap of $49.06 billion, a P/E ratio of 140.24, a price-to-earnings-growth ratio of 1.64 and a beta of 2.17. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95. The business’s 50-day moving average price is $219.20 and its two-hundred day moving average price is $208.50.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 67.9% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. As a group, equities analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reddit

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stephens Consulting LLC acquired a new position in Reddit during the fourth quarter worth about $230,000. CoreCap Advisors LLC boosted its holdings in shares of Reddit by 61.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,835 shares of the company’s stock valued at $422,000 after acquiring an additional 696 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in Reddit in the 4th quarter worth about $293,000. DAVENPORT & Co LLC grew its holdings in shares of Reddit by 0.7% during the fourth quarter. DAVENPORT & Co LLC now owns 27,741 shares of the company’s stock worth $6,377,000 after purchasing an additional 186 shares during the last quarter. Finally, Daymark Wealth Partners LLC bought a new position in Reddit in the 4th quarter valued at approximately $214,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of recent analyst reports. UBS Group set a $265.00 target price on Reddit in a report on Tuesday. Citigroup upped their price target on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Roth Capital set a $210.00 price objective on shares of Reddit in a research note on Friday, October 31st. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Reddit in a report on Monday, December 29th. Finally, Robert W. Baird upped their target price on shares of Reddit from $177.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.57.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.