Christopher Brian Slowe Sells 11,464 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,464 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $149.74, for a total transaction of $1,716,619.36. Following the completion of the sale, the chief technology officer owned 165,694 shares of the company’s stock, valued at $24,811,019.56. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, January 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $212.61, for a total value of $2,976,540.00.
• On Thursday, January 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $253.88, for a total value of $3,554,320.00.
• On Monday, December 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $233.53, for a total value of $3,269,420.00.
• On Monday, December 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $233.99, for a total value of $3,275,860.00.
• On Monday, November 24th, Christopher Brian Slowe sold 24,000 shares of Reddit stock. The stock was sold at an average price of $192.72, for a total value of $4,625,280.00.

Reddit Stock Down 6.0%

RDDT stock traded down $8.34 during midday trading on Thursday, hitting $130.95. 8,671,783 shares of the company traded hands, compared to its average volume of 6,709,134. Reddit Inc. has a twelve month low of $79.75 and a twelve month high of $282.95. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 49.98, a price-to-earnings-growth ratio of 1.03 and a beta of 2.17. The business has a 50 day simple moving average of $216.50 and a 200-day simple moving average of $215.06.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.28. Reddit had a net margin of 24.05% and a return on equity of 20.89%. The business had revenue of $725.61 million during the quarter, compared to the consensus estimate of $665.80 million. During the same period in the prior year, the firm earned $0.36 EPS. Reddit’s quarterly revenue was up 69.7% compared to the same quarter last year. Equities research analysts forecast that Reddit Inc. will post 1.12 EPS for the current year.

Institutional Investors Weigh In On Reddit

A number of institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC raised its stake in shares of Reddit by 143.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,982 shares of the company’s stock valued at $837,000 after buying an additional 4,701 shares in the last quarter. Empowered Funds LLC acquired a new position in Reddit in the first quarter worth about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Reddit by 106.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 216,960 shares of the company’s stock worth $22,759,000 after purchasing an additional 111,780 shares in the last quarter. Focus Partners Wealth lifted its stake in Reddit by 40.8% during the first quarter. Focus Partners Wealth now owns 10,224 shares of the company’s stock worth $1,073,000 after purchasing an additional 2,965 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Reddit by 344.6% during the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock valued at $39,000 after purchasing an additional 286 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $285.00 price objective on shares of Reddit in a research note on Tuesday, January 20th. UBS Group set a $265.00 target price on Reddit in a report on Tuesday, January 13th. Oppenheimer dropped their price target on Reddit from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Evercore reissued an “outperform” rating and issued a $290.00 price objective on shares of Reddit in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Reddit in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and an average target price of $240.93.

About Reddit

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.