Reddit Inc. (NYSE:RDDT - Get Free Report) COO Jennifer Wong sold 39,167 shares of the company's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $161.47, for a total transaction of $6,324,295.49. Following the completion of the transaction, the chief operating officer owned 1,088,451 shares in the company, valued at approximately $175,752,182.97. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Reddit Stock Up 1.4%
Reddit stock opened at $166.13 on Tuesday. The company's 50-day moving average price is $142.12 and its two-hundred day moving average price is $186.89. The stock has a market cap of $31.74 billion, a P/E ratio of 63.41, a P/E/G ratio of 1.19 and a beta of 2.40. Reddit Inc. has a twelve month low of $90.78 and a twelve month high of $282.95.
Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.28. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The company had revenue of $725.61 million during the quarter, compared to analysts' expectations of $665.80 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The business's revenue was up 69.7% on a year-over-year basis. Equities analysts anticipate that Reddit Inc. will post 4.02 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Reddit
Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Reddit by 29.2% during the 1st quarter. Blue Trust Inc. now owns 513 shares of the company's stock worth $69,000 after acquiring an additional 116 shares during the period. OP Asset Management Ltd bought a new stake in shares of Reddit during the 1st quarter valued at $1,417,000. Nautilus Advisors LLC lifted its position in shares of Reddit by 16.3% during the 1st quarter. Nautilus Advisors LLC now owns 4,812 shares of the company's stock valued at $648,000 after acquiring an additional 675 shares during the period. CENTRAL TRUST Co acquired a new stake in shares of Reddit during the 1st quarter worth $129,000. Finally, Cidel Asset Management Inc. acquired a new stake in shares of Reddit during the 1st quarter worth $242,000.
Wall Street Analyst Weigh In
Several analysts recently issued reports on RDDT shares. Cantor Fitzgerald reduced their price target on Reddit from $240.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, February 6th. The Goldman Sachs Group lowered their price objective on Reddit from $206.00 to $180.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $285.00 target price on shares of Reddit in a report on Tuesday, January 20th. Guggenheim boosted their target price on shares of Reddit from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Finally, Wall Street Zen downgraded shares of Reddit from a "buy" rating to a "hold" rating in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $237.46.
View Our Latest Analysis on Reddit
Reddit Company Profile
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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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