Key Points
- Reddit CEO Steve Ladd Huffman sold 18,000 shares on Nov. 28 at an average of $215.19 for $3,873,420, leaving him with 448,576 shares (a 3.86% reduction in ownership).
- Since mid‑September Huffman has sold about 108,000 shares across multiple transactions, raising roughly $23.2 million in proceeds.
- Reddit recently beat quarterly estimates (EPS $0.80 vs. $0.50 and revenue up 67.9% year‑over‑year), and analysts hold a consensus "Moderate Buy" rating with an average price target of $226.33.
Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $215.19, for a total value of $3,873,420.00. Following the completion of the sale, the chief executive officer owned 448,576 shares in the company, valued at approximately $96,529,069.44. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Steve Ladd Huffman also recently made the following trade(s):
- On Friday, November 14th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $194.81, for a total transaction of $3,506,580.00.
- On Thursday, October 30th, Steve Ladd Huffman sold 4,089 shares of Reddit stock. The stock was sold at an average price of $194.93, for a total transaction of $797,068.77.
- On Tuesday, November 4th, Steve Ladd Huffman sold 13,911 shares of Reddit stock. The stock was sold at an average price of $189.33, for a total value of $2,633,769.63.
- On Wednesday, October 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $200.53, for a total value of $3,609,540.00.
- On Tuesday, September 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $229.10, for a total transaction of $4,123,800.00.
- On Monday, September 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $261.22, for a total transaction of $4,701,960.00.
Reddit Stock Down 0.2%
RDDT opened at $222.86 on Wednesday. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95. The firm has a market cap of $42.23 billion, a PE ratio of 128.08, a P/E/G ratio of 2.46 and a beta of 2.17. The business has a fifty day simple moving average of $205.23 and a 200-day simple moving average of $184.99.
Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.30. The firm had revenue of $584.91 million for the quarter, compared to the consensus estimate of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The business's revenue for the quarter was up 67.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. On average, equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.
Analysts Set New Price Targets
RDDT has been the topic of a number of research analyst reports. Roth Capital set a $210.00 price target on Reddit in a report on Friday, October 31st. Morgan Stanley reaffirmed an "overweight" rating and issued a $250.00 price target on shares of Reddit in a research report on Friday, October 31st. JMP Securities restated a "market outperform" rating and set a $300.00 price objective on shares of Reddit in a report on Friday, October 3rd. Royal Bank Of Canada restated a "sector perform" rating on shares of Reddit in a research note on Wednesday, October 1st. Finally, B. Riley restated a "buy" rating and set a $245.00 price target (up previously from $235.00) on shares of Reddit in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.33.
Read Our Latest Analysis on Reddit
Institutional Trading of Reddit
Several hedge funds have recently modified their holdings of RDDT. Huntington National Bank raised its stake in shares of Reddit by 25.6% in the third quarter. Huntington National Bank now owns 270 shares of the company's stock valued at $62,000 after acquiring an additional 55 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in Reddit by 0.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company's stock worth $3,023,000 after acquiring an additional 65 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in Reddit by 2.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company's stock valued at $567,000 after purchasing an additional 66 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in Reddit by 5.0% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 1,439 shares of the company's stock valued at $331,000 after purchasing an additional 69 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Reddit by 9.9% in the third quarter. IFP Advisors Inc now owns 796 shares of the company's stock worth $183,000 after purchasing an additional 72 shares in the last quarter.
Reddit Company Profile
(
Get Free Report)
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.
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