Reddit, Inc. (NYSE:RDDT) CFO Sells $2,841,198.36 in Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the completion of the sale, the chief financial officer now owns 703,615 shares of the company’s stock, valued at $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, September 18th, Andrew Vollero sold 11,287 shares of Reddit stock. The shares were sold at an average price of $64.00, for a total transaction of $722,368.00.

Reddit Price Performance

Shares of RDDT traded up $4.43 during mid-day trading on Wednesday, hitting $140.04. 5,524,606 shares of the company traded hands, compared to its average volume of 5,046,465. Reddit, Inc. has a one year low of $37.35 and a one year high of $158.49. The business has a 50-day moving average of $96.72 and a 200 day moving average of $73.23.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.23. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business had revenue of $348.40 million for the quarter, compared to analysts’ expectations of $313.61 million. Reddit’s revenue for the quarter was up 67.9% compared to the same quarter last year. Sell-side analysts anticipate that Reddit, Inc. will post -3.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reddit

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new position in Reddit in the third quarter valued at approximately $3,929,000. Sanctuary Advisors LLC bought a new position in Reddit in the third quarter valued at approximately $144,000. SOA Wealth Advisors LLC. boosted its stake in Reddit by 56.3% in the third quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock valued at $126,000 after acquiring an additional 691 shares during the last quarter. Geode Capital Management LLC boosted its stake in Reddit by 176.0% in the third quarter. Geode Capital Management LLC now owns 824,200 shares of the company’s stock valued at $54,355,000 after acquiring an additional 525,619 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Reddit in the third quarter valued at approximately $495,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RDDT. Roth Mkm upped their price target on shares of Reddit from $89.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Raymond James upped their price target on shares of Reddit from $70.00 to $80.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group upped their price target on shares of Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a report on Monday. Bank of America increased their target price on shares of Reddit from $84.00 to $99.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Reddit from $59.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Reddit has an average rating of “Moderate Buy” and an average target price of $98.17.

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.