Steve Ladd Huffman Sells 14,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $176.20, for a total transaction of $2,466,800.00. Following the completion of the transaction, the chief executive officer now owns 620,971 shares of the company’s stock, valued at $109,415,090.20. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Steve Ladd Huffman also recently made the following trade(s):

• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $141.79, for a total transaction of $1,985,060.00.
• On Friday, November 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00.
• On Friday, November 1st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $113.13, for a total value of $1,583,820.00.
• On Tuesday, October 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $75.43, for a total value of $1,056,020.00.
• On Monday, September 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $66.20, for a total value of $926,800.00.

Reddit Trading Down 4.8 %

RDDT stock opened at $160.65 on Thursday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $180.74. The stock’s fifty day moving average is $123.90 and its two-hundred day moving average is $83.78.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.23. The firm had revenue of $348.40 million for the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The firm’s quarterly revenue was up 67.9% on a year-over-year basis. Equities analysts anticipate that Reddit, Inc. will post -3.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Sanford C. Bernstein raised their price objective on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, October 30th. Citigroup upped their target price on shares of Reddit from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded Reddit from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $200.00 in a research note on Monday, December 9th. Finally, JMP Securities boosted their price objective on Reddit from $118.00 to $160.00 and gave the company a “market outperform” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.42.

Institutional Investors Weigh In On Reddit

Hedge funds have recently made changes to their positions in the business. Whittier Trust Co. bought a new position in shares of Reddit in the third quarter valued at approximately $42,000. Daiwa Securities Group Inc. acquired a new position in shares of Reddit in the 3rd quarter worth $85,000. UMB Bank n.a. purchased a new position in Reddit in the 2nd quarter worth about $88,000. SOA Wealth Advisors LLC. increased its position in shares of Reddit by 56.3% in the third quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock worth $126,000 after acquiring an additional 691 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Reddit during the 3rd quarter worth approximately $144,000.

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.