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 Reddit stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $160.30, for a total value of $2,244,200.00. Following the completion of the transaction, the chief executive officer now owns 597,515 shares of the company’s stock, valued at approximately $95,781,654.50. The trade was a 2.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, February 18th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $187.78, for a total value of $2,628,920.00.
• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $201.96, for a total transaction of $2,827,440.00.
• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total transaction of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $176.20, for a total transaction of $2,466,800.00.

Reddit Stock Up 5.8 %

NYSE RDDT opened at $168.39 on Thursday. The company has a 50 day moving average price of $182.91 and a two-hundred day moving average price of $129.76. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41. The stock has a market capitalization of $30.46 billion and a PE ratio of -21.78.

Reddit (NYSE:RDDT) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. As a group, equities analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Roth Capital lowered Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Citigroup reissued a “neutral” rating on shares of Reddit in a report on Thursday, February 13th. Bank of America increased their price objective on shares of Reddit from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.95.

Institutional Investors Weigh In On Reddit

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDDT. Castle Rock Wealth Management LLC acquired a new stake in shares of Reddit in the fourth quarter worth $789,000. Brooklyn FI LLC bought a new position in shares of Reddit in the fourth quarter worth about $6,339,000. Employees Retirement System of Texas acquired a new position in shares of Reddit during the 4th quarter worth about $1,803,000. Jefferies Financial Group Inc. bought a new stake in Reddit during the 4th quarter valued at approximately $917,000. Finally, Chelsea Counsel Co. acquired a new stake in Reddit in the 4th quarter valued at approximately $49,000.

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.