Steve Ladd Huffman Sells 14,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

by · The Cerbat Gem

Reddit, Inc. (NYSE:RDDT – Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $110.05, for a total value of $1,540,700.00. Following the completion of the sale, the chief executive officer now owns 560,133 shares of the company’s stock, valued at $61,642,636.65. This represents a 2.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Steve Ladd Huffman also recently made the following trade(s):

  • On Thursday, May 15th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $114.98, for a total value of $14,304,431.84.
  • On Tuesday, May 6th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $110.67, for a total value of $1,549,380.00.
  • On Tuesday, April 15th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $96.65, for a total value of $12,024,033.20.
  • On Monday, March 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $103.28, for a total value of $1,445,920.00.
  • On Friday, March 14th, Steve Ladd Huffman sold 124,408 shares of Reddit stock. The stock was sold at an average price of $127.36, for a total value of $15,844,602.88.

Reddit Stock Performance

Shares of NYSE RDDT opened at $118.27 on Thursday. The stock has a 50 day moving average price of $106.30 and a 200 day moving average price of $143.93. Reddit, Inc. has a 52 week low of $49.13 and a 52 week high of $230.41. The stock has a market capitalization of $21.82 billion, a PE ratio of -15.30, a price-to-earnings-growth ratio of 4.72 and a beta of 2.90.

Reddit (NYSE:RDDT – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.11. The firm had revenue of $392.36 million for the quarter, compared to analyst estimates of $370.55 million. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. The business’s revenue for the quarter was up 61.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($8.19) earnings per share. As a group, research analysts forecast that Reddit, Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RDDT shares. Roth Capital restated a “neutral” rating on shares of Reddit in a report on Friday, May 2nd. Seaport Res Ptn upgraded Reddit from a “hold” rating to a “strong-buy” rating in a report on Monday, May 5th. Oppenheimer initiated coverage on Reddit in a research report on Wednesday, April 16th. They set an “outperform” rating and a $125.00 price objective for the company. Wells Fargo & Company set a $115.00 price objective on Reddit and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Bank of America reduced their price objective on Reddit from $190.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $139.78.

Get Our Latest Analysis on Reddit

Institutional Trading of Reddit

Several institutional investors and hedge funds have recently bought and sold shares of RDDT. Plato Investment Management Ltd bought a new stake in Reddit in the fourth quarter valued at approximately $27,000. CWM LLC raised its stake in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company’s stock valued at $27,000 after buying an additional 128 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Reddit in the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC bought a new stake in Reddit in the first quarter valued at approximately $31,000. Finally, Farmers & Merchants Investments Inc. bought a new stake in Reddit in the fourth quarter valued at approximately $33,000.

Reddit Company Profile

(Get Free Report)

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.

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