Andrew Vollero Sells 100,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 100,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $124.08, for a total value of $12,408,000.00. Following the sale, the chief financial officer now owns 499,295 shares in the company, valued at $61,952,523.60. The trade was a 16.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Andrew Vollero also recently made the following trade(s):

• On Monday, February 24th, Andrew Vollero sold 48,122 shares of Reddit stock. The shares were sold at an average price of $162.80, for a total value of $7,834,261.60.

Reddit Stock Performance

Shares of NYSE RDDT opened at $110.32 on Friday. The firm has a fifty day moving average of $167.31 and a 200 day moving average of $136.36. The firm has a market cap of $19.96 billion and a PE ratio of -14.27. Reddit, Inc. has a one year low of $37.35 and a one year high of $230.41.

Reddit (NYSE:RDDT) last released its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, equities analysts predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

RDDT has been the topic of several research analyst reports. Bank of America boosted their price target on Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Reddit in a report on Friday, March 21st. Raymond James decreased their price objective on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Citigroup reiterated a “neutral” rating on shares of Reddit in a research note on Thursday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Institutional Investors Weigh In On Reddit

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Reddit by 302.8% in the third quarter. FMR LLC now owns 12,157,591 shares of the company’s stock worth $801,428,000 after acquiring an additional 9,139,196 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Reddit by 184.2% in the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock valued at $1,500,606,000 after purchasing an additional 5,950,909 shares in the last quarter. Jennison Associates LLC acquired a new stake in Reddit during the 4th quarter worth $494,861,000. Alliancebernstein L.P. grew its holdings in shares of Reddit by 1,011.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company’s stock worth $455,795,000 after buying an additional 2,537,768 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock valued at $151,357,000 after buying an additional 2,225,895 shares during the last quarter.

About Reddit

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.