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 the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $113.13, for a total transaction of $1,583,820.00. Following the sale, the chief executive officer now directly owns 651,775 shares of the company’s stock, valued at $73,735,305.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, October 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00.
• On Monday, September 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $66.20, for a total transaction of $926,800.00.
• On Monday, September 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $59.19, for a total value of $828,660.00.
• On Friday, August 30th, Steve Ladd Huffman sold 6,714 shares of Reddit stock. The shares were sold at an average price of $59.84, for a total value of $401,765.76.
• On Tuesday, August 20th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $53.98, for a total value of $755,720.00.

Reddit Stock Down 1.2 %

NYSE RDDT opened at $121.07 on Thursday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $124.93. The company has a fifty day simple moving average of $73.72 and a 200 day simple moving average of $63.88.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.23. The company had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. On average, sell-side analysts expect that Reddit, Inc. will post -3.63 earnings per share for the current fiscal year.

Institutional Trading of Reddit

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of Reddit in the first quarter valued at approximately $37,000. Whittier Trust Co. bought a new stake in Reddit in the 3rd quarter valued at $42,000. ANTIPODES PARTNERS Ltd acquired a new stake in Reddit in the 1st quarter worth $63,000. SOA Wealth Advisors LLC. bought a new position in shares of Reddit during the 2nd quarter worth about $78,000. Finally, Sandia Investment Management LP acquired a new position in shares of Reddit during the first quarter valued at about $79,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $112.00 price target (up from $87.00) on shares of Reddit in a research report on Wednesday, October 30th. Sanford C. Bernstein increased their target price on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Raymond James boosted their price target on shares of Reddit from $70.00 to $80.00 and gave the company a “strong-buy” rating in a report on Thursday, October 10th. Jefferies Financial Group increased their price objective on Reddit from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Reddit from $59.00 to $77.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.72.

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.