Christopher Brian Slowe Sells 21,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 21,000 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $162.80, for a total value of $3,418,800.00. Following the transaction, the chief technology officer now owns 281,213 shares in the company, valued at approximately $45,781,476.40. This represents a 6.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Christopher Brian Slowe also recently made the following trade(s):

• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The shares were sold at an average price of $184.15, for a total transaction of $920,750.00.
• On Monday, December 23rd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $169.85, for a total value of $1,868,350.00.

Reddit Stock Down 5.1 %

RDDT stock opened at $159.45 on Friday. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The stock has a market cap of $28.84 billion and a price-to-earnings ratio of -20.63. The business has a fifty day moving average of $183.75 and a two-hundred day moving average of $126.22.

Reddit (NYSE:RDDT) last announced its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. As a group, sell-side analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd purchased a new position in Reddit in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC purchased a new position in Reddit in the fourth quarter valued at approximately $28,000. Ridgewood Investments LLC raised its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Reddit in the fourth quarter valued at $33,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Reddit during the fourth quarter worth about $33,000.

Wall Street Analyst Weigh In

RDDT has been the topic of a number of recent analyst reports. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and upped their price target for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Roth Capital downgraded Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Robert W. Baird increased their price target on shares of Reddit from $160.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Loop Capital upped their price target on shares of Reddit from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Reddit has a consensus rating of “Moderate Buy” and a consensus price target of $175.95.

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.