Reddit, Inc. (NYSE:RDDT) CFO Sells $2,841,198.36 in Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $143.22, for a total value of $2,841,198.36. Following the sale, the chief financial officer now owns 703,615 shares of the company’s stock, valued at $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, September 18th, Andrew Vollero sold 11,287 shares of Reddit stock. The shares were sold at an average price of $64.00, for a total value of $722,368.00.

Reddit Price Performance

NYSE:RDDT opened at $140.04 on Friday. Reddit, Inc. has a one year low of $37.35 and a one year high of $158.49. The company’s 50-day simple moving average is $98.23 and its 200 day simple moving average is $73.70.

Reddit (NYSE:RDDT) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $313.61 million. The firm’s quarterly revenue was up 67.9% on a year-over-year basis. On average, equities research analysts anticipate that Reddit, Inc. will post -3.63 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $150.00 target price (up previously from $115.00) on shares of Reddit in a report on Tuesday, November 19th. Citigroup boosted their price objective on shares of Reddit from $70.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Needham & Company LLC boosted their price target on Reddit from $85.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Raymond James increased their price objective on Reddit from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.17.

Institutional Investors Weigh In On Reddit

Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. purchased a new position in shares of Reddit in the 3rd quarter worth about $42,000. SOA Wealth Advisors LLC. bought a new stake in Reddit during the 2nd quarter valued at about $78,000. Daiwa Securities Group Inc. purchased a new position in Reddit in the third quarter worth about $85,000. UMB Bank n.a. bought a new position in shares of Reddit in the second quarter worth approximately $88,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Reddit during the third quarter valued at approximately $144,000.

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.