Insider Selling: Reddit (NYSE:RDDT) CEO Sells 18,000 Shares of Stock

Reddit Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $171.80, for a total value of $3,092,400.00. Following the completion of the sale, the chief executive officer directly owned 411,195 shares of the company's stock, valued at $70,643,301. The trade was a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

• Is Reddit's Stock Collapse a Buying Opportunity?

Steve Ladd Huffman also recently made the following trade(s):

• On Wednesday, April 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $158.40, for a total value of $2,851,200.00.
• 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 value 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 value 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 shares were sold at an average price of $138.81, for a total transaction of $2,498,580.00.

Reddit Stock Down 1.7%

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RDDT stock opened at $163.70 on Friday. Reddit Inc. has a twelve month low of $94.89 and a twelve month high of $282.95. The stock has a market capitalization of $31.27 billion, a price-to-earnings ratio of 46.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.85. The firm's fifty day simple moving average is $145.45 and its two-hundred day simple moving average is $183.43.

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Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. During the same quarter last year, the business earned $0.13 EPS. The business's revenue was up 69.1% on a year-over-year basis. As a group, equities research analysts expect that Reddit Inc. will post 4.78 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Cantor Fitzgerald boosted their target price on Reddit from $170.00 to $180.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Truist Financial set a $265.00 price objective on Reddit in a report on Friday, May 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $200.00 price objective on shares of Reddit in a research report on Friday, May 1st. Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, DA Davidson reiterated a "buy" rating and set a $200.00 target price on shares of Reddit in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.61.

• Reddit Buy Alert: Could It Really Have 40% Upside Potential?

Read Our Latest Analysis on RDDT

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new position in Reddit during the 1st quarter worth $46,000. Johnson Financial Group Inc. bought a new stake in Reddit during the 1st quarter valued at $195,000. Meeder Advisory Services Inc. lifted its holdings in shares of Reddit by 7.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,544 shares of the company's stock worth $208,000 after buying an additional 107 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Reddit by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 411,802 shares of the company's stock worth $55,409,000 after buying an additional 21,906 shares in the last quarter. Finally, Momentum Wealth Planning LLC grew its position in shares of Reddit by 203.1% during the 1st quarter. Momentum Wealth Planning LLC now owns 15,338 shares of the company's stock worth $2,065,000 after buying an additional 10,278 shares in the last quarter.

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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