Andrew Vollero Sells 19,838 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of Reddit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the completion of the sale, the chief financial officer now directly owns 703,615 shares in the company, valued at $100,771,740.30. This trade represents a 2.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, September 18th, Andrew Vollero sold 11,287 shares of Reddit stock. The stock was sold at an average price of $64.00, for a total value of $722,368.00.

Reddit Price Performance

Shares of NYSE RDDT opened at $140.04 on Friday. The business has a 50-day moving average of $98.23 and a 200-day moving average of $73.70. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $158.49.

Reddit (NYSE:RDDT) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. The business 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 company’s quarterly revenue was up 67.9% on a year-over-year basis. Analysts predict that Reddit, Inc. will post -3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RDDT has been the subject of several research reports. JPMorgan Chase & Co. increased their price target on Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. The Goldman Sachs Group increased their target price on shares of Reddit from $60.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Citigroup boosted their price target on shares of Reddit from $70.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, October 30th. Finally, Roth Mkm lifted their price objective on shares of Reddit from $89.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.17.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new position in shares of Reddit in the 3rd quarter worth about $42,000. SOA Wealth Advisors LLC. purchased a new stake in Reddit in the second quarter worth approximately $78,000. Daiwa Securities Group Inc. bought a new position in Reddit during the third quarter valued at approximately $85,000. UMB Bank n.a. purchased a new position in shares of Reddit during the second quarter worth approximately $88,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Reddit during the third quarter worth approximately $144,000.

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.