Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds Sells 909 Shares

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 909 shares of Reddit stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $125.00, for a total transaction of $113,625.00. Following the transaction, the chief accounting officer now owns 41,368 shares of the company’s stock, valued at approximately $5,171,000. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Michelle Marie Reynolds also recently made the following trade(s):

• On Thursday, May 22nd, Michelle Marie Reynolds sold 2,729 shares of Reddit stock. The stock was sold at an average price of $98.85, for a total transaction of $269,761.65.

Reddit Trading Up 5.6%

RDDT opened at $141.28 on Thursday. Reddit Inc. has a twelve month low of $49.13 and a twelve month high of $230.41. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 239.46, a PEG ratio of 3.44 and a beta of 1.99. The company has a fifty day simple moving average of $110.69 and a 200 day simple moving average of $142.65.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Reddit had a net margin of 8.07% and a return on equity of 5.69%. The company had revenue of $392.36 million during the quarter, compared to analysts’ expectations of $370.55 million. During the same period in the prior year, the company posted ($8.19) EPS. The firm’s revenue for the quarter was up 61.5% on a year-over-year basis. On average, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of analyst reports. Roth Mkm boosted their price target on Reddit from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. The Goldman Sachs Group raised their target price on shares of Reddit from $124.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on Reddit from $210.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Seaport Res Ptn upgraded Reddit from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 5th. Finally, Raymond James Financial cut their price objective on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.35.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RDDT. Cim LLC acquired a new stake in shares of Reddit during the first quarter worth $795,000. First Hawaiian Bank bought a new position in Reddit in the first quarter worth about $818,000. Rhumbline Advisers boosted its stake in Reddit by 202.7% in the first quarter. Rhumbline Advisers now owns 13,682 shares of the company’s stock valued at $1,435,000 after acquiring an additional 9,162 shares during the period. Siren L.L.C. bought a new position in shares of Reddit during the first quarter valued at approximately $2,465,000. Finally, Geneos Wealth Management Inc. raised its position 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 purchasing an additional 286 shares during the period.

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.