Reddit (NYSE:RDDT) CAO Sells $328,964.69 in Stock

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 2,291 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $143.59, for a total value of $328,964.69. Following the completion of the sale, the chief accounting officer directly owned 17,133 shares of the company’s stock, valued at approximately $2,460,127.47. This represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Michelle Marie Reynolds also recently made the following trade(s):

• On Tuesday, December 9th, Michelle Marie Reynolds sold 11,249 shares of Reddit stock. The stock was sold at an average price of $232.95, for a total value of $2,620,454.55.

Reddit Trading Down 0.3%

RDDT stock traded down $0.42 during trading on Tuesday, reaching $142.04. 4,005,217 shares of the stock were exchanged, compared to its average volume of 7,242,083. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95. The firm has a market capitalization of $27.14 billion, a price-to-earnings ratio of 54.21, a P/E/G ratio of 1.06 and a beta of 2.17. The business has a 50 day moving average price of $200.71 and a 200-day moving average price of $212.63.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.28. The company had revenue of $725.61 million during the quarter, compared to analyst estimates of $665.80 million. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The firm’s revenue for the quarter was up 69.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 earnings per share. On average, research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Reddit

Several hedge funds have recently modified their holdings of RDDT. Raiffeisen Bank International AG acquired a new stake in Reddit during the 3rd quarter worth about $25,000. GW&K Investment Management LLC bought a new position in shares of Reddit in the third quarter worth about $30,000. Cornerstone Planning Group LLC raised its stake in Reddit by 13,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after purchasing an additional 135 shares during the last quarter. LOM Asset Management Ltd bought a new stake in shares of Reddit in the 4th quarter worth approximately $33,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Reddit during the 4th quarter valued at about $34,000.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RDDT. Evercore restated an “outperform” rating and set a $290.00 target price on shares of Reddit in a research report on Friday, February 6th. Robert W. Baird set a $200.00 price target on Reddit in a research report on Friday, February 6th. Wall Street Zen upgraded Reddit from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Oppenheimer reduced their price objective on Reddit from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, China Renaissance started coverage on Reddit in a report on Tuesday, December 9th. They issued a “buy” rating and a $300.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Reddit has a consensus rating of “Moderate Buy” and a consensus price target of $238.78.

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.