Internal Sales: Reddit, Inc. (NYSE:RDDT) CTO Sells 11,000 Shares

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Reddit, Inc. (NYSE:RDDT – Get Your Free Report ) CTO Christopher Brian Slowe sold 11,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $65.56, for a total value of $721,160.00. Following the sale, the chief technology officer now directly owns 339,295 shares in the company, valued at approximately $22,244,180.20. The sale was disclosed in a filing with the SEC, which is available at this link.

Christopher Brian Slowe also recently traded:

On Tuesday, August 20th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $53.99, for a total value of $1,133,790.00.

Reddit Actions Performance

Shares of NYSE RDDT traded up $0.92 during trading on Wednesday, reaching $67.88. 4,240,032 shares of the company traded hands, compared to its average volume of 4,430,301. The company has a fifty day moving average price of $59.24. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $78.08.

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Reddit (NYSE:RDDT – Get Your Free Report ) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The company had revenue of $281.20 million for the quarter, compared to analysts’ expectations of $253.86 million. The company’s quarterly revenue was up 53.6% year over year. In the same quarter last year, the business posted EPS of ($0.70). As a group, analysts estimate that Reddit, Inc. will post -4.17 earnings per share for the current year.

Hedge funds influence Reddit

A number of institutional investors have recently modified their holdings of the stock. Congress Park Capital LLC purchased a new stake in shares of Reddit in the 1st quarter valued at approximately $279,000. Commonwealth Equity Services LLC acquired a new stake in shares of Reddit in the first quarter valued at approximately $1,111,000. BNP Paribas Financial Markets purchased a new stake in shares of Reddit in the first quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Reddit in the 1st quarter valued at about $265,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Reddit in the 1st quarter valued at approximately $63,000.

Changes in Analyst Ratings

Several analysts recently commented on the company. Piper Sandler upped their price objective on Reddit from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and set a $84.00 price objective on shares of Reddit in a report on Tuesday, July 30th. Morgan Stanley boosted their price objective on Reddit from $63.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein upped their price objective on Reddit from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Monday, July 22nd. Finally, Cannonball Research assumed coverage on Reddit in a report on Tuesday, August 6th. They set a “buy” rating and a $67.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $66.12, according to MarketBeat.com.

Check out the latest stock report on RDDT

Reddit Company Profile

(Get a free report)

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that allow users to engage in conversations by sharing experiences, sending links, uploading images and videos, and responding to each other. The company was founded in 2005 and is headquartered in San Francisco, California.