Reddit, Inc. (NYSE:RDDT) Director Sells $3,394,200.00 in Stock

Reddit, Inc. (NYSE:RDDT) Director Mary Porter Gale sold 20,000 shares of Reddit stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $169.71, for a total transaction of $3,394,200.00. Following the sale, the director now owns 26,309 shares of the company’s stock, valued at approximately $4,464,900.39. The trade was a 43.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Reddit Price Performance

Shares of NYSE RDDT opened at $159.45 on Friday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $230.41. The stock has a market capitalization of $28.84 billion and a P/E ratio of -20.63. The company’s 50-day moving average is $183.75 and its 200 day moving average is $126.22.

Reddit (NYSE:RDDT) last announced its 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%. Research analysts anticipate that Reddit, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Roth Capital lowered Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. Loop Capital lifted their target price on shares of Reddit from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Seaport Res Ptn upgraded Reddit to a “hold” rating in a report on Thursday, February 6th. B. Riley increased their target price on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price target on Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.95.

Institutional Trading of Reddit

Hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC increased its position in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Proficio Capital Partners LLC grew 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 acquiring an additional 120 shares during the last quarter. Farther Finance Advisors LLC grew 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 acquiring an additional 147 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after acquiring an additional 150 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Reddit by 3.0% in the 4th 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 last quarter.

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.