Steve Ladd Huffman Sells 18,000 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $138.81, for a total value of $2,498,580.00. Following the completion of the transaction, the chief executive officer directly owned 448,576 shares of the company’s stock, valued at approximately $62,266,834.56. This trade represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, January 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $183.18, for a total transaction of $3,297,240.00.
• On Thursday, January 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $232.78, for a total transaction of $4,190,040.00.
• On Wednesday, December 31st, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $230.76, for a total value of $4,153,680.00.
• On Monday, December 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $220.28, for a total value of $3,965,040.00.
• On Friday, November 28th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $215.19, for a total transaction of $3,873,420.00.

Reddit Trading Down 1.2%

NYSE:RDDT opened at $145.72 on Friday. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The firm has a market cap of $27.84 billion, a P/E ratio of 55.62, a price-to-earnings-growth ratio of 1.10 and a beta of 2.17. The stock has a 50 day moving average of $205.33 and a two-hundred day moving average of $213.88.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.28. The company had revenue of $725.61 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Institutional Trading of Reddit

A number of institutional investors have recently added to or reduced their stakes in RDDT. Resona Asset Management Co. Ltd. boosted its position in Reddit by 53.2% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 30,944 shares of the company’s stock valued at $7,166,000 after purchasing an additional 10,743 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Reddit by 880.5% in the second quarter. Teacher Retirement System of Texas now owns 94,676 shares of the company’s stock valued at $14,255,000 after acquiring an additional 85,020 shares in the last quarter. Optimize Financial Inc acquired a new stake in Reddit in the 3rd quarter valued at about $1,420,000. Vanguard Group Inc. grew its position in Reddit by 12.9% in the third quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company’s stock worth $2,814,734,000 after buying an additional 1,401,293 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in shares of Reddit by 120.2% during the second quarter. Plato Investment Management Ltd now owns 2,970 shares of the company’s stock worth $446,000 after purchasing an additional 1,621 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on RDDT shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $285.00 price target on shares of Reddit in a research note on Tuesday, January 20th. Bank of America increased their target price on shares of Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. The Goldman Sachs Group decreased their price objective on Reddit from $236.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. Citigroup increased their target price on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, China Renaissance assumed coverage on shares of Reddit in a research note on Tuesday, December 9th. They issued a “buy” rating and a $300.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently 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.