Reddit (RDDT) Scheduled to Post Earnings on Tuesday

Reddit (NYSE:RDDT) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of -2.34 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Reddit Stock Up 1.9 %

Shares of Reddit stock opened at 46.28 on Tuesday. Reddit has a one year low of 37.35 and a one year high of 74.90.

Insider Buying and Selling at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 500,000 shares of Reddit stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 16,150,000.00. Following the completion of the transaction, the chief executive officer now owns 710,306 shares in the company, valued at approximately 22,942,883.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Reddit news, CEO Steve Ladd Huffman sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of 32.30, for a total value of 16,150,000.00. Following the sale, the chief executive officer now owns 710,306 shares in the company, valued at approximately 22,942,883.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Christopher Brian Slowe sold 185,000 shares of Reddit stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 5,975,500.00. Following the transaction, the chief technology officer now directly owns 413,684 shares of the company’s stock, valued at 13,361,993.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,084,798 shares of company stock valued at $35,038,975.

Analyst Ratings Changes

A number of equities research analysts recently commented on RDDT shares. Loop Capital initiated coverage on shares of Reddit in a research report on Monday, April 15th. They set a “buy” rating and a $55.00 target price for the company. New Street Research initiated coverage on Reddit in a report on Tuesday, March 26th. They set a “neutral” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Reddit in a research note on Monday, April 15th. They set a “neutral” rating and a $47.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Reddit in a research note on Tuesday, April 16th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Needham & Company LLC began coverage on shares of Reddit in a research report on Monday, April 15th. They set a “buy” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of 49.20.

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.