Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero Sells 19,838 Shares of Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the completion of the transaction, the chief financial officer now owns 703,615 shares of the company’s stock, valued at approximately $100,771,740.30. The trade was a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Reddit Price Performance

Shares of NYSE RDDT opened at $140.04 on Thursday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $158.49. The firm has a fifty day moving average price of $96.72 and a 200-day moving average price of $73.23.

Reddit (NYSE:RDDT) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.23. The business had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The company’s revenue was up 67.9% compared to the same quarter last year. As a group, equities analysts expect that Reddit, Inc. will post -3.63 EPS for the current year.

Institutional Trading of Reddit

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Reddit by 302.8% in the 3rd quarter. FMR LLC now owns 12,157,591 shares of the company’s stock worth $801,428,000 after purchasing an additional 9,139,196 shares during the period. VY Capital Management Co. Ltd. bought a new position in shares of Reddit during the third quarter worth $474,403,000. Holocene Advisors LP grew its stake in Reddit by 177.6% during the third quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock valued at $198,154,000 after acquiring an additional 1,923,109 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Reddit by 3,172.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock valued at $151,357,000 after acquiring an additional 2,225,895 shares during the last quarter. Finally, Vanguard Group Inc. purchased a new stake in Reddit in the 1st quarter worth $82,167,000.

Analyst Ratings Changes

RDDT has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $112.00 price objective (up from $87.00) on shares of Reddit in a report on Wednesday, October 30th. Sanford C. Bernstein boosted their price objective on shares of Reddit from $65.00 to $85.00 and gave the company an “underperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Reddit from $59.00 to $77.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Finally, Needham & Company LLC lifted their price objective on Reddit from $85.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.17.

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.