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 Tuesday, February 18th. The shares were sold at an average price of $187.78, for a total transaction of $2,628,920.00. Following the completion of the transaction, the chief executive officer now owns 614,394 shares in the company, valued at approximately $115,370,905.32. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00.
• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $172.79, for a total transaction of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $165.33, for a total value of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $176.20, for a total value of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $141.79, for a total transaction of $1,985,060.00.

Reddit Stock Down 7.6 %

Shares of NYSE:RDDT opened at $175.18 on Friday. The business has a fifty day simple moving average of $184.25 and a 200 day simple moving average of $122.41. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $230.41.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, analysts forecast that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analyst Ratings Changes

RDDT has been the subject of several research analyst reports. B. Riley boosted their price objective on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein raised their price objective on Reddit from $65.00 to $85.00 and gave the company an “underperform” rating in a research note on Wednesday, October 30th. Roth Mkm cut Reddit from a “buy” rating to a “neutral” rating and lifted their target price for the company from $116.00 to $195.00 in a research report on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on shares of Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley raised their price target on shares of Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDDT. Mackenzie Financial Corp bought a new stake in Reddit in the 4th quarter valued at about $316,000. Cache Advisors LLC bought a new position in shares of Reddit in the fourth quarter worth $3,269,000. GF Fund Management CO. LTD. purchased a new position in shares of Reddit in the fourth quarter valued at $7,674,000. Fourth Dimension Wealth LLC bought a new stake in shares of Reddit during the 4th quarter valued at $49,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Reddit during the 4th quarter worth about $149,000.

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.