Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 11,000 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $124.08, for a total transaction of $1,364,880.00. Following the sale, the chief technology officer now directly owns 281,213 shares in the company, valued at approximately $34,892,909.04. This represents a 3.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The stock was sold at an average price of $162.80, for a total transaction of $3,418,800.00.
• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The stock was sold at an average price of $184.15, for a total value of $920,750.00.

Reddit Stock Down 4.3 %

Reddit stock opened at $120.07 on Thursday. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The company has a 50 day moving average of $168.60 and a 200-day moving average of $136.54. The stock has a market capitalization of $21.72 billion and a PE ratio of -15.53.

Reddit (NYSE:RDDT) last released its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Reddit

Hedge funds and other institutional investors have recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in shares of Reddit during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new position in Reddit during the fourth quarter worth $28,000. Ridgewood Investments LLC boosted 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 during the last quarter. Farmers & Merchants Investments Inc. bought a new position in Reddit in the fourth quarter valued at $33,000. Finally, Bogart Wealth LLC acquired a new stake in Reddit in the 4th quarter valued at $33,000.

Wall Street Analysts Forecast Growth

RDDT has been the topic of several research reports. Roth Mkm lowered Reddit from a “buy” rating to a “neutral” rating and upped their price target for the company from $116.00 to $195.00 in a research note on Wednesday, January 22nd. The Goldman Sachs Group boosted their price objective on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Redburn Atlantic initiated coverage on shares of Reddit in a research note on Monday, March 17th. They issued a “sell” rating and a $75.00 target price on the stock. Raymond James dropped their price target on shares of Reddit from $250.00 to $200.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Finally, Redburn Partners set a $75.00 price objective on shares of Reddit in a research note on Monday, March 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

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.