Key Points
- Reddit CEO Steve Ladd Huffman sold 18,000 shares on March 31 at $132.77 for a total of $2,389,860 under a pre‑arranged Rule 10b5‑1 plan, leaving him with 411,195 shares (a 4.19% reduction) valued at about $54.6M.
- Huffman has executed multiple similar 18,000‑share sales earlier this year at higher prices, indicating ongoing, scheduled liquidity rather than a one‑off transaction.
- Separately, Reddit recently reported an earnings beat (EPS $1.24 vs. $0.96) and 69.7% YoY revenue growth; the stock trades with a market cap near $26B and a consensus analyst rating of Moderate Buy with a $240.85 target.
Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.77, for a total value of $2,389,860.00. Following the transaction, the chief executive officer directly owned 411,195 shares of the company's stock, valued at approximately $54,594,360.15. This represents a 4.19% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Steve Ladd Huffman also recently made the following trade(s):
- On Friday, March 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $132.86, for a total value of $2,391,480.00.
- On Friday, February 27th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $145.12, for a total value of $2,612,160.00.
- On Friday, February 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $138.81, for a total value of $2,498,580.00.
- On Friday, January 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $183.18, for a total value of $3,297,240.00.
- On Thursday, January 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $232.78, for a total value of $4,190,040.00.
Reddit Price Performance
Shares of RDDT stock opened at $136.06 on Friday. The stock has a market capitalization of $25.99 billion, a PE ratio of 51.93, a PEG ratio of 0.99 and a beta of 2.40. The business's 50 day simple moving average is $148.67 and its 200 day simple moving average is $195.55. Reddit Inc. has a one year low of $79.75 and a one year high of $282.95.
Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.28. The firm had revenue of $725.61 million during the quarter, compared to analyst estimates of $665.80 million. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The company's revenue was up 69.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. As a group, research analysts expect that Reddit Inc. will post 1.12 earnings per share for the current year.
Institutional Investors Weigh In On Reddit
Large investors have recently bought and sold shares of the stock. Huntington National Bank raised its holdings in shares of Reddit by 25.6% during the third quarter. Huntington National Bank now owns 270 shares of the company's stock valued at $62,000 after purchasing an additional 55 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Reddit by 6.1% in the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company's stock valued at $246,000 after buying an additional 62 shares during the period. Roxbury Financial LLC grew its stake in shares of Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company's stock valued at $214,000 after buying an additional 64 shares during the period. AdvisorNet Financial Inc increased its position in Reddit by 2.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company's stock valued at $567,000 after buying an additional 66 shares in the last quarter. Finally, Florida Financial Advisors LLC increased its position in Reddit by 6.7% in the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company's stock valued at $250,000 after buying an additional 68 shares in the last quarter.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RDDT. B. Riley Financial boosted their target price on shares of Reddit from $245.00 to $250.00 and gave the company a "buy" rating in a report on Friday, February 6th. Morgan Stanley set a $240.00 price target on Reddit in a report on Friday, February 6th. Wells Fargo & Company set a $196.00 price objective on Reddit in a research report on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on Reddit from $227.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, February 6th. Finally, Truist Financial upped their target price on Reddit from $270.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Reddit currently has a consensus rating of "Moderate Buy" and a consensus price target of $240.85.
View Our Latest Analysis on Reddit
About Reddit
(
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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