Christopher Brian Slowe Sells 5,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $77.48, for a total transaction of $387,400.00. Following the sale, the chief technology officer now owns 30,068 shares of the company’s stock, valued at $2,329,668.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Christopher Brian Slowe also recently made the following trade(s):

• On Monday, September 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $65.56, for a total value of $721,160.00.
• On Tuesday, August 20th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The stock was sold at an average price of $53.99, for a total transaction of $1,133,790.00.

Reddit Price Performance

Shares of NYSE RDDT opened at $81.36 on Friday. The stock has a 50 day moving average price of $65.57 and a 200 day moving average price of $60.17. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $81.72.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.25. The company had revenue of $281.20 million during the quarter, compared to analyst estimates of $253.86 million. The company’s quarterly revenue was up 53.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) EPS. As a group, sell-side analysts predict that Reddit, Inc. will post -4.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. VY Capital Management Co. Ltd. acquired a new stake in Reddit in the 3rd quarter valued at about $474,403,000. Inclusive Capital Partners L.P. bought a new position in shares of Reddit during the 1st quarter worth approximately $103,051,000. Vanguard Group Inc. acquired a new position in shares of Reddit during the 1st quarter worth approximately $82,167,000. Price T Rowe Associates Inc. MD bought a new stake in Reddit in the 1st quarter valued at $37,015,000. Finally, Blackstone Inc. acquired a new stake in Reddit during the 1st quarter valued at $36,990,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of several analyst reports. Sanford C. Bernstein increased their target price on shares of Reddit from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Monday, July 22nd. Needham & Company LLC lifted their target price on Reddit from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley increased their price target on Reddit from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group lifted their price objective on Reddit from $60.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Loop Capital lifted their price target on shares of Reddit from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average price target of $73.61.

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.