Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 21,000 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 21,000 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $162.80, for a total transaction of $3,418,800.00. Following the sale, the chief technology officer now directly owns 281,213 shares in the company, valued at approximately $45,781,476.40. This represents a 6.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The stock was sold at an average price of $184.15, for a total value of $920,750.00.
• On Monday, December 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $169.85, for a total value of $1,868,350.00.

Reddit Price Performance

Shares of RDDT stock opened at $159.45 on Friday. The firm has a fifty day moving average of $183.75 and a two-hundred day moving average of $126.22. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $230.41. The firm has a market cap of $28.84 billion and a P/E ratio of -20.63.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. On average, sell-side analysts expect that Reddit, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RDDT. Jefferies Financial Group Inc. acquired a new stake in Reddit during the fourth quarter worth about $917,000. Chelsea Counsel Co. acquired a new stake in shares of Reddit during the 4th quarter worth approximately $49,000. Heck Capital Advisors LLC bought a new stake in shares of Reddit in the 4th quarter worth approximately $125,000. B. Riley Wealth Advisors Inc. acquired a new position in Reddit during the 4th quarter valued at approximately $2,716,000. Finally, Integrated Advisors Network LLC bought a new position in Reddit during the 4th quarter worth $491,000.

Analyst Ratings Changes

RDDT has been the subject of a number of recent research reports. Needham & Company LLC raised their price objective on shares of Reddit from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James lifted their price objective on Reddit from $200.00 to $250.00 and gave the company a “strong-buy” rating in a research report on Monday, February 10th. Robert W. Baird increased their price target on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Loop Capital boosted their target price on Reddit from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group upped their price target on shares of Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and an average price target of $175.95.

Reddit Company Profile

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.