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 the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $201.96, for a total value of $2,827,440.00. Following the sale, the chief executive officer now owns 614,394 shares in the company, valued at $124,083,012.24. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 shares were 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 shares were 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 transaction 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 transaction 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 transaction of $1,763,720.00.

Reddit Stock Up 2.6 %

Shares of NYSE:RDDT opened at $220.84 on Thursday. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $221.18. The stock’s 50 day moving average is $171.57 and its 200-day moving average is $111.11.

Institutional Trading of Reddit

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Reddit by 302.8% during the third quarter. FMR LLC now owns 12,157,591 shares of the company’s stock valued at $801,428,000 after buying an additional 9,139,196 shares during the last quarter. VY Capital Management Co. Ltd. bought a new position in Reddit in the 3rd quarter valued at about $474,403,000. Jennison Associates LLC acquired a new position in Reddit during the 4th quarter valued at about $494,861,000. Holocene Advisors LP increased its holdings 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 purchasing an additional 1,923,109 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company’s stock worth $151,357,000 after purchasing an additional 2,225,895 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley raised Reddit from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $70.00 to $200.00 in a report on Monday, December 9th. The Goldman Sachs Group lifted 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. Guggenheim initiated coverage on Reddit in a report on Friday, December 20th. They issued a “buy” rating and a $210.00 target price on the stock. Roth Mkm lowered shares of Reddit from a “buy” rating to a “neutral” rating and raised their price target for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Finally, Bank of America upped their price objective on shares of Reddit from $99.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.