Steve Ladd Huffman Sells 18,000 Shares of Reddit (NYSE:RDDT) Stock

Reddit Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $145.12, for a total value of $2,612,160.00. Following the completion of the sale, the chief executive officer owned 411,195 shares of the company’s stock, valued at $59,672,618.40. This represents a 4.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, February 13th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $138.81, for a total value of $2,498,580.00.
• On Friday, January 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $183.18, for a total value of $3,297,240.00.
• On Thursday, January 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $232.78, for a total transaction of $4,190,040.00.
• On Wednesday, December 31st, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $230.76, for a total transaction of $4,153,680.00.
• On Monday, December 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $220.28, for a total transaction of $3,965,040.00.

Reddit Stock Up 1.0%

NYSE:RDDT opened at $147.19 on Thursday. The firm has a market capitalization of $28.12 billion, a PE ratio of 56.18, a price-to-earnings-growth ratio of 1.06 and a beta of 2.40. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The firm has a 50-day moving average price of $190.89 and a 200 day moving average price of $209.17.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RDDT shares. Wall Street Zen upgraded shares of Reddit from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Morgan Stanley set a $240.00 price target on shares of Reddit in a research report on Friday, February 6th. Wells Fargo & Company set a $196.00 price objective on shares of Reddit in a research note on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on shares of Reddit from $227.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Finally, Argus set a $300.00 target price on Reddit in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RDDT. SHP Wealth Management bought a new stake in shares of Reddit during the 4th quarter valued at $78,000. Alpine Global Management LLC raised its position in shares of Reddit by 187.4% during the fourth quarter. Alpine Global Management LLC now owns 2,658 shares of the company’s stock worth $611,000 after purchasing an additional 1,733 shares during the period. Pacer Advisors Inc. lifted its stake in Reddit by 64.2% in the fourth quarter. Pacer Advisors Inc. now owns 318,153 shares of the company’s stock valued at $73,134,000 after buying an additional 124,394 shares in the last quarter. Floyd Financial Group LLC bought a new stake in Reddit in the 4th quarter valued at $1,216,000. Finally, Compound Planning Inc. lifted its holdings in shares of Reddit by 23.4% in the fourth quarter. Compound Planning Inc. now owns 1,624 shares of the company’s stock valued at $373,000 after purchasing an additional 308 shares in the last quarter.

Reddit Company Profile

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.