Key Points
- Steve Ladd Huffman sold 18,000 shares of Reddit on April 15 at an average price of $158.40 for a $2.85M transaction, reducing his direct holdings by 4.19% to 411,195 shares (≈$65.13M); the sale was disclosed in an SEC filing.
- The transaction was executed under a pre-arranged Rule 10b5-1 trading plan, and Huffman has repeatedly sold identical 18,000-share tranches this year (Jan 30, Feb 13, Feb 27, Mar 13, Mar 31), showing a pattern of systematic insider selling.
- Separately, Reddit recently reported a strong quarter (Feb 5) with EPS $1.24 beating estimates and revenue up 69.7% year-over-year, while analysts hold a consensus "Moderate Buy" with a $237.46 target amid mixed individual price targets.
Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $158.40, for a total transaction of $2,851,200.00. Following the completion of the transaction, the chief executive officer directly owned 411,195 shares of the company's stock, valued at approximately $65,133,288. This represents a 4.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Steve Ladd Huffman also recently made the following trade(s):
- On Tuesday, March 31st, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $132.77, for a total transaction of $2,389,860.00.
- 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 transaction of $2,391,480.00.
- On Friday, February 27th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $145.12, for a total transaction of $2,612,160.00.
- On Friday, February 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $138.81, for a total transaction 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 transaction of $3,297,240.00.
Reddit Stock Performance
Shares of RDDT stock opened at $163.41 on Friday. Reddit Inc. has a one year low of $90.78 and a one year high of $282.95. The company has a 50 day moving average price of $141.63 and a 200 day moving average price of $187.55. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of 62.37, a price-to-earnings-growth ratio of 1.18 and a beta of 2.40.
Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm had revenue of $725.61 million during the quarter, compared to analyst estimates of $665.80 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Reddit's revenue for the quarter was up 69.7% compared to the same quarter last year. As a group, equities analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Cidel Asset Management Inc. purchased a new position in shares of Reddit in the first quarter valued at $242,000. Cache Advisors LLC bought a new position in Reddit during the 1st quarter valued at $60,000. Anchyra Partners LLC boosted its stake in Reddit by 10.9% during the 1st quarter. Anchyra Partners LLC now owns 2,857 shares of the company's stock valued at $385,000 after acquiring an additional 281 shares during the last quarter. Diversified Trust Co boosted its stake in Reddit by 2.1% during the 1st quarter. Diversified Trust Co now owns 3,271 shares of the company's stock valued at $440,000 after acquiring an additional 68 shares during the last quarter. Finally, Purpose Unlimited Inc. bought a new position in Reddit during the 4th quarter valued at $383,000.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Bank of America dropped their price target on shares of Reddit from $205.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Zacks Research lowered shares of Reddit from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 26th. Argus set a $300.00 price objective on shares of Reddit in a research note on Friday, January 9th. Morgan Stanley set a $240.00 price objective on shares of Reddit in a research note on Friday, February 6th. Finally, Cantor Fitzgerald decreased their price objective on shares of Reddit from $240.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $237.46.
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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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