Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman Sells 14,000 Shares of Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the chief executive officer now owns 651,775 shares of the company’s stock, valued at $49,163,388.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 30th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $66.20, for a total transaction of $926,800.00.
• On Monday, September 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were 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 stock was sold at an average price of $59.84, for a total value of $401,765.76.
• On Tuesday, August 20th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $53.98, for a total value of $755,720.00.

Reddit Trading Down 1.2 %

RDDT opened at $76.31 on Friday. The business’s 50-day moving average is $62.59 and its two-hundred day moving average is $58.74. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $78.74.

Reddit (NYSE:RDDT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $281.20 million during the quarter, compared to analysts’ expectations of $253.86 million. During the same period in the previous year, the firm earned ($0.70) EPS. The firm’s quarterly revenue was up 53.6% on a year-over-year basis. As a group, research analysts anticipate that Reddit, Inc. will post -4.1 EPS for the current fiscal year.

Institutional Trading of Reddit

Several hedge funds and other institutional investors have recently made changes to their positions in the business. StoneCrest Wealth Management Inc. grew its stake in Reddit by 2.6% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 6,846 shares of the company’s stock worth $451,000 after buying an additional 176 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Reddit during the first quarter worth about $37,000. SOA Wealth Advisors LLC. acquired a new position in shares of Reddit during the second quarter valued at about $78,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Reddit in the 1st quarter valued at approximately $63,000. Finally, UMB Bank n.a. purchased a new stake in Reddit during the 2nd quarter worth approximately $88,000.

Wall Street Analysts Forecast Growth

RDDT has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their target price on Reddit from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Monday, July 22nd. Piper Sandler lifted their price objective on shares of Reddit from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued a $84.00 price objective on shares of Reddit in a research report on Tuesday, July 30th. Raymond James raised their target price on shares of Reddit from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Roth Mkm lowered their price target on Reddit from $67.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.28.

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.