Reddit (NYSE:RDDT) Director Mary Porter Gale Sells 4,000 Shares of Company Stock

Reddit Inc. (NYSE:RDDT) Director Mary Gale sold 4,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $96.00, for a total transaction of $384,000.00. Following the completion of the transaction, the director owned 11,181 shares in the company, valued at $1,073,376. This represents a 26.35% 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 hyperlink.

Mary Porter Gale also recently made the following trade(s):

• On Tuesday, November 3rd, Mary Gale sold 3,000 shares of Reddit stock. The stock was sold at an average price of $96.00, for a total transaction of $288,000.00.

Reddit Stock Performance

RDDT traded down $2.31 during trading on Tuesday, reaching $98.48. 5,451,417 shares of the company’s stock were exchanged, compared to its average volume of 5,597,555. The company’s fifty day moving average price is $143.34 and its 200-day moving average price is $156.12. Reddit Inc. has a fifty-two week low of $89.28 and a fifty-two week high of $263.50. The firm has a market capitalization of $18.95 billion, a PE ratio of 20.10, a P/E/G ratio of 0.41 and a beta of 2.28.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 29th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.33 by $0.07. The company had revenue of $894.96 million during the quarter, compared to analysts’ expectations of $874.91 million. Reddit had a net margin of 32.10% and a return on equity of 30.57%. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. Research analysts forecast that Reddit Inc. will post 5.42 earnings per share for the current fiscal year.

Institutional Trading of Reddit

A number of large investors have recently made changes to their positions in RDDT. Sunbelt Securities Inc. boosted its stake in Reddit by 87.5% in the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company’s stock worth $26,000 after purchasing an additional 91 shares during the period. Ascentis Independent Advisors bought a new position in Reddit during the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC increased its holdings in Reddit by 48.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 197 shares of the company’s stock worth $34,000 after purchasing an additional 64 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Reddit in the 2nd quarter valued at about $35,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Reddit in the 3rd quarter valued at about $41,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RDDT shares. BNP Paribas Exane reduced their target price on Reddit from $180.00 to $110.00 in a report on Friday, October 30th. Telsey Advisory Group set a $240.00 price target on Reddit in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Reddit from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Jefferies Financial Group cut their price target on shares of Reddit from $200.00 to $155.00 in a research report on Friday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Reddit from $142.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.00.

Reddit Company Profile

Reddit, Inc. operates Reddit, an online platform where users share posts, discuss topics and participate in communities known as subreddits. Members can submit text, images, videos and links, comment on posts, and vote on content, helping shape what appears in each community. The company generates revenue primarily through advertising and also offers paid subscriptions and other products. Reddit serves users and advertisers around the world through its website and mobile applications. Reddit was founded in 2005 by Steve Huffman, Alexis Ohanian and Aaron Swartz.