Reddit, Inc. (NYSE:RDDT) COO Sells $4,173,958.26 in Stock

Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong sold 33,333 shares of Reddit stock in a transaction on Monday, March 17th. The shares were sold at an average price of $125.22, for a total value of $4,173,958.26. Following the transaction, the chief operating officer now owns 1,466,119 shares in the company, valued at approximately $183,587,421.18. This trade represents a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Reddit Price Performance

NYSE RDDT opened at $115.46 on Friday. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $230.41. The stock’s 50-day moving average is $171.19 and its two-hundred day moving average is $134.62. The firm has a market cap of $20.89 billion and a P/E ratio of -14.94.

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

Analyst Ratings Changes

Several research firms have recently weighed in on RDDT. JMP Securities raised their price objective on Reddit from $190.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Citigroup reissued a “neutral” rating on shares of Reddit in a research note on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Reddit in a research note on Friday. Finally, Wells Fargo & Company raised their price objective on Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Reddit has an average rating of “Hold” and a consensus target price of $162.68.

Hedge Funds Weigh In On Reddit

Institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC increased its stake in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Reddit by 2.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock worth $966,000 after purchasing an additional 120 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 147 shares during the period. UMB Bank n.a. increased its stake in shares of Reddit by 10.8% in the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after purchasing an additional 150 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in shares of Reddit by 3.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after purchasing an additional 155 shares during the period.

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.