Reddit (NYSE:RDDT) CAO Sells 11,249 Shares

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 11,249 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $232.95, for a total transaction of $2,620,454.55. Following the transaction, the chief accounting officer owned 10,558 shares in the company, valued at approximately $2,459,486.10. This represents a 51.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, November 24th, Michelle Marie Reynolds sold 3,215 shares of Reddit stock. The stock was sold at an average price of $186.44, for a total value of $599,404.60.

Reddit Price Performance

NYSE RDDT traded down $5.26 during midday trading on Thursday, hitting $232.85. 4,381,606 shares of the company traded hands, compared to its average volume of 3,935,347. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The company’s 50-day simple moving average is $205.97 and its 200-day simple moving average is $190.15. The company has a market cap of $44.13 billion, a PE ratio of 133.82, a price-to-earnings-growth ratio of 2.63 and a beta of 2.17.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $584.91 million during the quarter, compared to analysts’ expectations of $546.65 million. During the same period in the prior year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 67.9% on a year-over-year basis. On average, research analysts predict that Reddit Inc. will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RDDT. Huntington National Bank boosted its stake in Reddit by 25.6% during the 3rd quarter. Huntington National Bank now owns 270 shares of the company’s stock worth $62,000 after purchasing an additional 55 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Reddit by 0.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after purchasing an additional 65 shares during the period. AdvisorNet Financial Inc grew its holdings in shares of Reddit by 2.8% in the third quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company’s stock valued at $567,000 after purchasing an additional 66 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in Reddit by 5.0% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,439 shares of the company’s stock worth $331,000 after buying an additional 69 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Reddit by 9.9% during the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock worth $183,000 after buying an additional 72 shares in the last quarter.

Analyst Upgrades and Downgrades

RDDT has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on shares of Reddit from $177.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 25th. B. Riley reiterated a “buy” rating and set a $245.00 price objective (up previously from $235.00) on shares of Reddit in a report on Friday, October 31st. China Renaissance assumed coverage on Reddit in a research report on Tuesday. They issued a “buy” rating and a $300.00 price objective for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Reddit in a research report on Tuesday, October 14th. Finally, Citigroup increased their price target on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.28.

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.