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

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.77, for a total transaction of $2,389,860.00. Following the transaction, the chief executive officer owned 411,195 shares of the company’s stock, valued at approximately $54,594,360.15. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, March 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $132.86, for a total value of $2,391,480.00.
• On Friday, February 27th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $145.12, for a total value of $2,612,160.00.
• On Friday, February 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $138.81, for a total value of $2,498,580.00.
• On Friday, January 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $183.18, for a total value of $3,297,240.00.
• On Thursday, January 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $232.78, for a total value of $4,190,040.00.

Reddit Stock Performance

Reddit stock opened at $136.06 on Friday. The stock has a 50-day simple moving average of $148.67 and a 200 day simple moving average of $195.55. The stock has a market capitalization of $25.99 billion, a P/E ratio of 51.93, a PEG ratio of 0.99 and a beta of 2.40. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, February 5th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The business had revenue of $725.61 million during the quarter, compared to the consensus estimate of $665.80 million. During the same quarter in the previous year, the firm posted $0.36 EPS. Reddit’s revenue was up 69.7% compared to the same quarter last year. Research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Capital World Investors acquired a new stake in shares of Reddit during the fourth quarter valued at about $1,293,258,000. Norges Bank bought a new position in Reddit in the 4th quarter valued at approximately $372,047,000. Vanguard Group Inc. raised its holdings in Reddit by 12.9% in the 3rd quarter. Vanguard Group Inc. now owns 12,238,508 shares of the company’s stock valued at $2,814,734,000 after buying an additional 1,401,293 shares during the last quarter. Amundi boosted its position in Reddit by 2,060.5% during the 2nd quarter. Amundi now owns 1,307,231 shares of the company’s stock worth $208,294,000 after buying an additional 1,246,725 shares during the period. Finally, Invesco Ltd. grew its holdings in Reddit by 419.0% during the 3rd quarter. Invesco Ltd. now owns 1,487,941 shares of the company’s stock worth $342,212,000 after acquiring an additional 1,201,237 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have issued reports on RDDT shares. Wall Street Zen upgraded Reddit from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird set a $200.00 price target on Reddit in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Reddit in a research report on Monday, December 29th. The Goldman Sachs Group reduced their price objective on shares of Reddit from $236.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Finally, Jefferies Financial Group decreased their target price on shares of Reddit from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $240.85.

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.