Mary Porter Gale Sells 20,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDTGet Free Report) Director Mary Porter Gale sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $169.71, for a total value of $3,394,200.00. Following the sale, the director now owns 26,309 shares of the company’s stock, valued at $4,464,900.39. The trade was a 43.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Reddit Stock Performance

Shares of Reddit stock traded down $5.98 during trading hours on Tuesday, hitting $159.59. The company’s stock had a trading volume of 6,104,469 shares, compared to its average volume of 6,085,570. The firm has a fifty day moving average of $183.87 and a 200-day moving average of $124.94. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The stock has a market cap of $28.87 billion and a price-to-earnings ratio of -20.65.

Reddit (NYSE:RDDTGet Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. On average, sell-side analysts expect that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several research reports. Seaport Res Ptn upgraded Reddit to a “hold” rating in a research report on Thursday, February 6th. Bank of America upped their target price on Reddit from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Morgan Stanley upped their target price on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Jefferies Financial Group upped their target price on Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Loop Capital upped their target price on Reddit from $180.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and an average target price of $175.95.

Check Out Our Latest Analysis on RDDT

Hedge Funds Weigh In On Reddit

Several hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in Reddit by 7.5% during the 4th quarter. FMR LLC now owns 13,070,780 shares of the company’s stock worth $2,136,288,000 after acquiring an additional 913,189 shares in the last quarter. Vanguard Group Inc. lifted its stake in Reddit by 184.2% during the 4th quarter. Vanguard Group Inc. now owns 9,181,390 shares of the company’s stock worth $1,500,606,000 after acquiring an additional 5,950,909 shares in the last quarter. Jennison Associates LLC acquired a new position in Reddit during the 4th quarter worth about $494,861,000. Holocene Advisors LP lifted its stake in Reddit by 177.6% during the 3rd quarter. Holocene Advisors LP now owns 3,005,977 shares of the company’s stock worth $198,154,000 after acquiring an additional 1,923,109 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Reddit by 1,011.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,788,758 shares of the company’s stock valued at $455,795,000 after purchasing an additional 2,537,768 shares in the last quarter.

Reddit Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Reddit (NYSE:RDDT)

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