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 firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $125.98, for a total value of $1,763,720.00. Following the completion of the sale, the chief executive officer now directly owns 651,775 shares of the company’s stock, valued at $82,110,614.50. The trade was a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, November 1st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $113.13, for a total value of $1,583,820.00.
• 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 value 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 value of $926,800.00.
• On Monday, September 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was 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.

Reddit Trading Down 0.6 %

NYSE:RDDT opened at $136.27 on Thursday. Reddit, Inc. has a one year low of $37.35 and a one year high of $139.04. The company has a fifty day moving average price of $88.35 and a 200 day moving average price of $69.95.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. The firm had revenue of $348.40 million for the quarter, compared to analyst estimates of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business’s quarterly revenue was up 67.9% on a year-over-year basis. On average, equities analysts expect that Reddit, Inc. will post -3.63 EPS for the current fiscal year.

Analyst Ratings Changes

RDDT has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price objective (up previously from $115.00) on shares of Reddit in a research report on Tuesday. B. Riley reiterated a “buy” rating and issued a $112.00 price target (up from $87.00) on shares of Reddit in a research note on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Bank of America raised their target price on Reddit from $84.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Loop Capital lifted their price target on Reddit from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.67.

Institutional Trading of Reddit

Hedge funds have recently modified their holdings of the company. ARK Investment Management LLC raised its holdings in shares of Reddit by 120.5% in the third quarter. ARK Investment Management LLC now owns 352,721 shares of the company’s stock valued at $23,251,000 after purchasing an additional 192,785 shares during the last quarter. Victory Capital Management Inc. boosted its position in Reddit by 903.8% during the third quarter. Victory Capital Management Inc. now owns 504,116 shares of the company’s stock worth $33,231,000 after purchasing an additional 453,894 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Reddit during the first quarter worth $7,363,000. Objective Capital Management LLC acquired a new stake in shares of Reddit during the third quarter worth $391,000. Finally, VY Capital Management Co. Ltd. acquired a new stake in shares of Reddit during the third quarter worth $474,403,000.

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.