Reddit, Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 11,000 shares of Reddit stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $169.85, for a total transaction of $1,868,350.00. Following the transaction, the chief technology officer now owns 324,837 shares in the company, valued at approximately $55,173,564.45. This trade represents a 3.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Christopher Brian Slowe also recently made the following trade(s):
Shares of NYSE RDDT traded down $0.67 during mid-day trading on Thursday, reaching $176.74. 2,441,462 shares of the company's stock traded hands, compared to its average volume of 5,156,878. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $182.20. The business has a 50-day simple moving average of $133.65 and a 200 day simple moving average of $87.73.
Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.23. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The firm had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. The firm's quarterly revenue was up 67.9% compared to the same quarter last year. On average, equities research analysts forecast that Reddit, Inc. will post -3.46 EPS for the current fiscal year.
RDDT has been the subject of a number of recent analyst reports. Guggenheim started coverage on shares of Reddit in a research report on Friday, December 20th. They set a "buy" rating and a $210.00 target price for the company. Citigroup increased their price objective on shares of Reddit from $120.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. B. Riley reaffirmed a "buy" rating and set a $112.00 price target (up previously from $87.00) on shares of Reddit in a research report on Wednesday, October 30th. Raymond James lifted their price objective on Reddit from $70.00 to $80.00 and gave the stock a "strong-buy" rating in a research report on Thursday, October 10th. Finally, Bank of America upped their target price on Reddit from $84.00 to $99.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.70.
Get Our Latest Stock Analysis on RDDT
Several large investors have recently bought and sold shares of RDDT. ARK Investment Management LLC raised its holdings in shares of Reddit by 120.5% in the third quarter. ARK Investment Management LLC now owns 352,721 shares of the company's stock valued at $23,251,000 after purchasing an additional 192,785 shares during the last quarter. Wellington Management Group LLP increased its stake in Reddit by 3,640.5% in the 3rd quarter. Wellington Management Group LLP now owns 255,325 shares of the company's stock valued at $16,831,000 after buying an additional 248,499 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Reddit by 903.8% during the 3rd quarter. Victory Capital Management Inc. now owns 504,116 shares of the company's stock worth $33,231,000 after buying an additional 453,894 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Reddit by 176.0% in the 3rd quarter. Geode Capital Management LLC now owns 824,200 shares of the company's stock worth $54,355,000 after buying an additional 525,619 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. bought a new position in shares of Reddit in the third quarter valued at approximately $7,490,000.
Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.
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