Reddit, Inc. (NYSE:RDDT) CEO Sells $2,827,440.00 in Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $124,083,012.24. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Steve Ladd Huffman also recently made the following trade(s):

• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total transaction of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $165.33, for a total value of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $176.20, for a total value of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $141.79, for a total value of $1,985,060.00.
• On Friday, November 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $125.98, for a total value of $1,763,720.00.

Reddit Trading Down 1.9 %

Shares of Reddit stock opened at $216.91 on Friday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $222.44. The company has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $111.88.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in Reddit during the 4th quarter valued at $27,000. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. bought a new position in shares of Reddit in the fourth quarter worth about $33,000. Bogart Wealth LLC bought a new stake in Reddit in the 4th quarter valued at $33,000. Finally, Spire Wealth Management purchased a new stake in shares of Reddit during the 4th quarter worth approximately $35,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on RDDT shares. Roth Capital cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group increased their target price on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Wells Fargo & Company began coverage on shares of Reddit in a report on Wednesday, December 11th. They issued an “overweight” rating and a $206.00 price target on the stock. Morgan Stanley upgraded Reddit from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $200.00 in a report on Monday, December 9th. Finally, Guggenheim began coverage on shares of Reddit in a research note on Friday, December 20th. They set a “buy” rating and a $210.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $159.70.

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.