Steve Ladd Huffman Sells 14,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $160.30, for a total transaction of $2,244,200.00. Following the sale, the chief executive officer now owns 597,515 shares of the company’s stock, valued at approximately $95,781,654.50. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, February 18th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $187.78, for a total transaction of $2,628,920.00.
• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00.
• 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 value 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 shares were sold at an average price of $176.20, for a total transaction of $2,466,800.00.

Reddit Trading Up 5.8 %

Shares of Reddit stock opened at $168.39 on Thursday. 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 $30.46 billion and a price-to-earnings ratio of -21.78. The company has a fifty day moving average price of $182.91 and a 200 day moving average price of $129.76.

Reddit (NYSE:RDDT) last issued its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share 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%. Analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current year.

Institutional Trading of Reddit

Several large investors have recently bought and sold shares of RDDT. Plato Investment Management Ltd acquired a new position in shares of Reddit during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC purchased a new stake in Reddit during the 4th quarter worth $28,000. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in Reddit in the 4th quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the fourth quarter valued at about $33,000.

Analyst Ratings Changes

RDDT has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. B. Riley boosted their price target on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Raymond James raised their price objective on Reddit from $200.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Monday, February 10th. Morgan Stanley lifted their price objective on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company increased their target price on Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.95.

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.