Reddit (NYSE:RDDT) CAO Sells $328,964.69 in Stock

Reddit Inc. (NYSE:RDDT) CAO Michelle Marie Reynolds sold 2,291 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $143.59, for a total value of $328,964.69. Following the sale, the chief accounting officer owned 17,133 shares of the company’s stock, valued at approximately $2,460,127.47. The trade was a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Michelle Marie Reynolds also recently made the following trade(s):

• On Tuesday, December 9th, Michelle Marie Reynolds sold 11,249 shares of Reddit stock. The stock was sold at an average price of $232.95, for a total transaction of $2,620,454.55.

Reddit Stock Down 0.3%

Reddit stock traded down $0.42 during midday trading on Tuesday, hitting $142.04. 4,005,217 shares of the stock were exchanged, compared to its average volume of 7,242,083. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The company has a fifty day simple moving average of $200.71 and a two-hundred day simple moving average of $212.63. The stock has a market capitalization of $27.14 billion, a PE ratio of 54.21, a P/E/G ratio of 1.06 and a beta of 2.17.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The firm had revenue of $725.61 million during the quarter, compared to analyst estimates of $665.80 million. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 69.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Reddit

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Reddit by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company’s stock worth $3,062,339,000 after buying an additional 1,083,540 shares during the last quarter. Capital World Investors purchased a new stake in Reddit during the 4th quarter valued at $1,293,258,000. State Street Corp grew its stake in shares of Reddit by 6.0% in the fourth quarter. State Street Corp now owns 2,631,332 shares of the company’s stock worth $604,864,000 after acquiring an additional 149,401 shares during the period. Geode Capital Management LLC lifted its holdings in Reddit by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company’s stock valued at $546,789,000 after acquiring an additional 106,821 shares during the period. Finally, Morgan Stanley grew its position in shares of Reddit by 11.4% during the 4th quarter. Morgan Stanley now owns 2,372,443 shares of the company’s stock valued at $545,354,000 after acquiring an additional 242,709 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer dropped their price objective on Reddit from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, February 6th. UBS Group set a $265.00 price target on Reddit in a research note on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $285.00 price objective on shares of Reddit in a research note on Tuesday, January 20th. Morgan Stanley set a $240.00 target price on Reddit in a research report on Friday, February 6th. Finally, Robert W. Baird set a $200.00 price target on shares of Reddit in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average target price of $238.78.

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.