Reddit (NYSE:RDDT) CFO Andrew Vollero Sells 8,413 Shares

by · The Markets Daily

Reddit Inc. (NYSE:RDDT – Get Free Report) CFO Andrew Vollero sold 8,413 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $252.72, for a total value of $2,126,133.36. Following the completion of the sale, the chief financial officer directly owned 256,118 shares of the company’s stock, valued at approximately $64,726,140.96. The trade was a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Andrew Vollero also recently made the following trade(s):

  • On Wednesday, January 7th, Andrew Vollero sold 500 shares of Reddit stock. The shares were sold at an average price of $260.06, for a total transaction of $130,030.00.

Reddit Stock Down 0.6%

Shares of RDDT stock traded down $1.64 on Thursday, reaching $253.87. The stock had a trading volume of 3,013,507 shares, compared to its average volume of 3,491,108. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The firm has a market capitalization of $48.11 billion, a price-to-earnings ratio of 145.90, a P/E/G ratio of 1.72 and a beta of 2.17. The firm’s 50-day moving average is $217.70 and its two-hundred day moving average is $206.10.

Reddit (NYSE:RDDT – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.30. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The firm had revenue of $584.91 million for the quarter, compared to the consensus estimate of $546.65 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The business’s revenue was up 67.9% compared to the same quarter last year. On average, sell-side analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Reddit

Hedge funds have recently made changes to their positions in the company. Raiffeisen Bank International AG bought a new stake in shares of Reddit in the 3rd quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in shares of Reddit in the third quarter worth approximately $30,000. Cornerstone Planning Group LLC boosted its holdings in Reddit by 13,500.0% in the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares during the last quarter. Noble Wealth Management PBC bought a new stake in Reddit in the fourth quarter valued at approximately $34,000. Finally, GAMMA Investing LLC increased its position in Reddit by 8,650.0% during the 3rd quarter. GAMMA Investing LLC now owns 175 shares of the company’s stock valued at $40,000 after purchasing an additional 173 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RDDT. Zacks Research cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Citigroup upped their target price on Reddit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Sanford C. Bernstein increased their price objective on Reddit from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Friday, October 31st. China Renaissance initiated coverage on Reddit in a report on Tuesday, December 9th. They set a “buy” rating and a $300.00 target price for the company. Finally, Jefferies Financial Group upped their price target on shares of Reddit from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Reddit currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.65.

Check Out Our Latest Analysis on Reddit

Reddit Company Profile

(Get Free Report)

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.

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