Reddit (NYSE:RDDT) CFO Andrew Vollero Sells 8,413 Shares

Reddit Inc. (NYSE:RDDT) CFO Andrew Vollero sold 8,413 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $252.72, for a total value of $2,126,133.36. Following the transaction, the chief financial officer directly owned 256,118 shares of the company’s stock, valued at $64,726,140.96. This represents a 3.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Andrew Vollero also recently made the following trade(s):

• On Wednesday, January 7th, Andrew Vollero sold 500 shares of Reddit stock. The shares were sold at an average price of $260.06, for a total transaction of $130,030.00.

Reddit Price Performance

NYSE:RDDT opened at $253.87 on Friday. The firm’s 50-day moving average price is $217.70 and its 200-day moving average price is $206.10. The company has a market capitalization of $48.11 billion, a PE ratio of 145.90, a P/E/G ratio of 1.72 and a beta of 2.17. Reddit Inc. has a 1-year low of $79.75 and a 1-year high of $282.95.

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

Institutional Investors Weigh In On Reddit

Several institutional investors have recently modified their holdings of RDDT. Huntington National Bank raised its position in Reddit by 25.6% in the 3rd quarter. Huntington National Bank now owns 270 shares of the company’s stock worth $62,000 after buying an additional 55 shares during the last quarter. Roxbury Financial LLC lifted its holdings in Reddit by 7.4% in the fourth quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock valued at $214,000 after acquiring an additional 64 shares during the period. Resona Asset Management Co. Ltd. boosted its position in Reddit by 0.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock worth $3,023,000 after purchasing an additional 65 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Reddit by 2.8% in the third quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company’s stock worth $567,000 after purchasing an additional 66 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Reddit by 5.0% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,439 shares of the company’s stock valued at $331,000 after purchasing an additional 69 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on RDDT shares. Jefferies Financial Group raised their price objective on Reddit from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $236.00 target price on shares of Reddit in a research note on Tuesday, October 14th. Citigroup raised their price target on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Reddit in a research report on Monday, December 29th. Finally, Bank of America upped their price target on shares of Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.65.

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.