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 company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $124.08, for a total transaction of $12,408,000.00. Following the transaction, the chief financial officer now owns 499,295 shares in the company, valued at approximately $61,952,523.60. This trade represents a 16.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Reddit Trading Down 4.3 %

Shares of Reddit stock traded down $5.36 during trading hours on Wednesday, reaching $120.07. The stock had a trading volume of 4,848,989 shares, compared to its average volume of 5,334,641. The stock’s 50 day moving average is $168.60 and its 200 day moving average is $136.54. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The firm has a market capitalization of $21.72 billion and a PE ratio of -15.53.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in Reddit by 126.6% in the 4th quarter. California State Teachers Retirement System now owns 48,380 shares of the company’s stock valued at $7,907,000 after acquiring an additional 27,032 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Reddit during the fourth quarter valued at $2,208,000. Kilter Group LLC purchased a new position in Reddit during the fourth quarter valued at $928,000. Castle Rock Wealth Management LLC acquired a new stake in shares of Reddit in the fourth quarter valued at about $789,000. Finally, Brooklyn FI LLC purchased a new stake in shares of Reddit during the fourth quarter worth about $6,339,000.

Analyst Ratings Changes

A number of research analysts have issued reports on RDDT shares. Morgan Stanley raised their price target on shares of Reddit from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Redburn Partners set a $75.00 target price on Reddit in a research report on Monday, March 17th. Citigroup reaffirmed a “neutral” rating on shares of Reddit in a research report on Thursday, February 13th. Raymond James dropped their price target on Reddit from $250.00 to $200.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group raised their price objective on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.68.

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.