Key Points
- Reddit CAO Michelle Marie Reynolds sold 11,249 shares on Dec. 9 at an average price of $232.95 for proceeds of about $2.62M, cutting her stake to 10,558 shares — a roughly 51.6% reduction in ownership.
- Reddit beat earnings expectations in its latest report, posting $0.80 EPS versus $0.50 consensus and revenue of $584.9M (up 67.9% year-over-year) versus $546.7M expected.
- Analysts rate Reddit as a "Moderate Buy" with an average price target of $230.28; the company trades with a market cap of $44.13B and a high P/E of 133.82.
Reddit Inc. (NYSE:RDDT - Get Free Report) CAO Michelle Marie Reynolds sold 11,249 shares of the company's stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $232.95, for a total value of $2,620,454.55. Following the transaction, the chief accounting officer owned 10,558 shares in the company, valued at $2,459,486.10. This trade represents a 51.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Michelle Marie Reynolds also recently made the following trade(s):
- On Monday, November 24th, Michelle Marie Reynolds sold 3,215 shares of Reddit stock. The shares were sold at an average price of $186.44, for a total value of $599,404.60.
Reddit Trading Down 2.2%
RDDT opened at $232.85 on Friday. The stock's 50-day moving average price is $205.97 and its 200 day moving average price is $190.15. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The firm has a market cap of $44.13 billion, a price-to-earnings ratio of 133.82, a PEG ratio of 2.63 and a beta of 2.17.
Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.30. The company had revenue of $584.91 million during 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%.Reddit's revenue was up 67.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. On average, research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Roth Capital set a $210.00 price target on shares of Reddit in a research report on Friday, October 31st. Bank of America lifted their target price on Reddit from $180.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, October 31st. Robert W. Baird upped their price target on Reddit from $177.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, September 25th. Citigroup increased their price target on Reddit from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, November 3rd. Finally, B. Riley reissued a "buy" rating and set a $245.00 price objective (up from $235.00) on shares of Reddit in a research report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $230.28.
Read Our Latest Research Report on Reddit
Institutional Trading of Reddit
Institutional investors have recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of Reddit by 52.4% in the 3rd quarter. Allworth Financial LP now owns 2,001 shares of the company's stock valued at $460,000 after acquiring an additional 688 shares during the last quarter. IFP Advisors Inc boosted its holdings in Reddit by 9.9% in the third quarter. IFP Advisors Inc now owns 796 shares of the company's stock valued at $183,000 after purchasing an additional 72 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Reddit by 309.1% in the third quarter. Swiss Life Asset Management Ltd now owns 19,605 shares of the company's stock valued at $4,509,000 after purchasing an additional 14,813 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Reddit by 8.8% in the third quarter. CIBC Private Wealth Group LLC now owns 14,247 shares of the company's stock valued at $3,277,000 after purchasing an additional 1,149 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Reddit during the third quarter worth approximately $857,000.
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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