Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 21,000 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 21,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $146.01, for a total value of $3,066,210.00. Following the sale, the chief technology officer now directly owns 297,925 shares of the company’s stock, valued at approximately $43,500,029.25. This represents a 6.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Brian Slowe also recently made the following trade(s):

• On Tuesday, October 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The shares were sold at an average price of $77.48, for a total transaction of $387,400.00.
• On Monday, September 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The stock was sold at an average price of $65.56, for a total transaction of $721,160.00.

Reddit Price Performance

Shares of NYSE:RDDT opened at $146.63 on Friday. The firm has a fifty day moving average price of $92.06 and a two-hundred day moving average price of $71.24. Reddit, Inc. has a one year low of $37.35 and a one year high of $158.49.

Reddit (NYSE:RDDT) last posted its earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 business had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $313.61 million. The firm’s revenue was up 67.9% on a year-over-year basis. Sell-side analysts forecast that Reddit, Inc. will post -3.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on RDDT shares. Jefferies Financial Group raised their price target on shares of Reddit from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on Reddit from $70.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein increased their price target on Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 30th. Cannonball Research began coverage on Reddit in a research note on Tuesday, August 6th. They issued a “buy” rating and a $67.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Reddit from $59.00 to $77.00 and gave the company a “neutral” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and a consensus target price of $91.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Whittier Trust Co. bought a new stake in Reddit during the third quarter valued at approximately $42,000. BNP Paribas Financial Markets bought a new position in shares of Reddit in the 1st quarter worth $37,000. SOA Wealth Advisors LLC. purchased a new stake in shares of Reddit during the 2nd quarter valued at $78,000. Daiwa Securities Group Inc. bought a new stake in shares of Reddit during the 3rd quarter worth $85,000. Finally, UMB Bank n.a. purchased a new position in Reddit in the second quarter worth $88,000.

Reddit Company Profile

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.