Key Points
- Steve Ladd Huffman sold 18,000 shares of Reddit on Jan. 15 at an average price of $232.78 for about $4.19M, leaving him with 448,576 shares (a 3.86% reduction); the transaction was disclosed in an SEC filing.
- The Jan. 15 sale is part of a string of recent insider dispositions — Huffman sold multiple 18,000-share blocks across Nov–Dec–Jan (and smaller lots earlier), indicating ongoing insider selling activity.
- Reddit has a market cap of roughly $42.7B, a PE of about 129.6, a 52-week range of $79.75–$282.95, and a MarketBeat consensus of “Moderate Buy” with an average price target of $240.17.
Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $232.78, for a total value of $4,190,040.00. Following the sale, the chief executive officer directly owned 448,576 shares in the company, valued at approximately $104,419,521.28. The trade was a 3.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Steve Ladd Huffman also recently made the following trade(s):
- On Wednesday, December 31st, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $230.76, for a total transaction of $4,153,680.00.
- On Monday, December 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $220.28, for a total transaction of $3,965,040.00.
- On Friday, November 28th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $215.19, for a total transaction of $3,873,420.00.
- On Friday, November 14th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were 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 shares were 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 transaction of $2,633,769.63.
Reddit Stock Performance
Shares of RDDT opened at $225.48 on Wednesday. The stock has a fifty day moving average of $224.30 and a two-hundred day moving average of $212.08. The company has a market capitalization of $42.73 billion, a PE ratio of 129.59, a price-to-earnings-growth ratio of 1.55 and a beta of 2.17. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95.
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 business had revenue of $584.91 million for the quarter, compared to analysts' expectations of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The business's revenue was up 67.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, equities research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Reddit
A number of hedge funds have recently made changes to their positions in the business. Huntington National Bank grew its holdings in Reddit by 25.6% in the 3rd quarter. Huntington National Bank now owns 270 shares of the company's stock worth $62,000 after buying an additional 55 shares in the last quarter. Roxbury Financial LLC boosted its position in Reddit by 7.4% during the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company's stock worth $214,000 after acquiring an additional 64 shares during the period. Resona Asset Management Co. Ltd. grew its stake in shares of Reddit by 0.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company's stock worth $3,023,000 after purchasing an additional 65 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Reddit by 2.8% during the third quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company's stock valued at $567,000 after purchasing an additional 66 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its stake in shares of Reddit by 5.0% during the third 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 in the last quarter.
Analysts Set New Price Targets
Several analysts have commented on the company. Piper Sandler restated an "overweight" rating on shares of Reddit in a report on Monday, December 1st. JPMorgan Chase & Co. boosted their target price on shares of Reddit from $190.00 to $227.00 and gave the company a "neutral" rating in a report on Friday, October 31st. Argus set a $300.00 price target on shares of Reddit in a research report on Friday, January 9th. Evercore ISI initiated coverage on shares of Reddit in a report on Monday, January 12th. They issued an "outperform" rating and a $320.00 price target on the stock. Finally, Roth Capital set a $210.00 price objective on Reddit in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $240.17.
View Our Latest Analysis on RDDT
Reddit Company Profile
(
Get Free Report)
Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called "subreddits," each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.
Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.
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