Reddit (NYSE:RDDT) CTO Christopher Brian Slowe Sells 14,000 Shares of Stock

Reddit Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 14,000 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $212.61, for a total transaction of $2,976,540.00. Following the sale, the chief technology officer directly owned 167,694 shares in the company, valued at $35,653,421.34. This trade represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Christopher Brian Slowe also recently made the following trade(s):

• On Thursday, January 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $253.88, for a total transaction of $3,554,320.00.
• On Monday, December 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $233.53, for a total value of $3,269,420.00.
• On Monday, December 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $233.99, for a total value of $3,275,860.00.
• On Monday, November 24th, Christopher Brian Slowe sold 24,000 shares of Reddit stock. The stock was sold at an average price of $192.72, for a total value of $4,625,280.00.
• On Monday, November 10th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $204.43, for a total value of $2,862,020.00.

Reddit Price Performance

Shares of RDDT stock opened at $213.96 on Tuesday. Reddit Inc. has a 1-year low of $79.75 and a 1-year high of $282.95. The company has a market cap of $40.54 billion, a price-to-earnings ratio of 122.96, a PEG ratio of 1.49 and a beta of 2.17. The stock has a 50 day simple moving average of $225.99 and a 200-day simple moving average of $213.97.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.50 by $0.30. The company had revenue of $584.91 million during the quarter, compared to analyst estimates of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm’s revenue was up 67.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. Analysts anticipate that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group set a $265.00 price objective on Reddit in a research note on Tuesday, January 13th. Guggenheim reiterated a “buy” rating and set a $245.00 price target on shares of Reddit in a research report on Friday. Sanford C. Bernstein increased their price objective on Reddit from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Friday, October 31st. Evercore ISI initiated coverage on shares of Reddit in a research note on Monday, January 12th. They set an “outperform” rating and a $320.00 target price on the stock. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $250.00 target price (up previously from $225.00) on shares of Reddit in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.18.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in shares of Reddit by 143.3% in the first quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after purchasing an additional 4,701 shares during the period. Empowered Funds LLC purchased a new position in Reddit during the first quarter worth about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Reddit by 106.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock valued at $22,759,000 after purchasing an additional 111,780 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Reddit by 40.8% in the 1st quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock valued at $1,073,000 after buying an additional 2,965 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after buying an additional 286 shares during the last quarter.

About Reddit

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.