Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong Sells 33,333 Shares

Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong sold 33,333 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $128.13, for a total value of $4,270,957.29. Following the transaction, the chief operating officer now directly owns 1,542,457 shares of the company’s stock, valued at $197,635,015.41. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Reddit Trading Down 0.6 %

RDDT traded down $0.89 during trading on Wednesday, hitting $136.27. The company had a trading volume of 5,495,025 shares, compared to its average volume of 4,884,696. The firm’s 50-day moving average price is $86.83 and its 200 day moving average price is $69.49. Reddit, Inc. has a one year low of $37.35 and a one year high of $139.04.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.23. The firm had revenue of $348.40 million during the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The company’s quarterly revenue was up 67.9% compared to the same quarter last year. As a group, research analysts anticipate that Reddit, Inc. will post -3.63 EPS for the current fiscal year.

Analysts Set New Price Targets

RDDT has been the subject of several research reports. Roth Mkm raised their target price on Reddit from $89.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on Reddit from $70.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Reddit from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America lifted their target price on Reddit from $84.00 to $99.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price objective on Reddit from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $91.67.

Institutional Trading of Reddit

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of Reddit during the first quarter valued at about $37,000. SG Americas Securities LLC purchased a new position in shares of Reddit during the first quarter worth about $265,000. Vanguard Group Inc. acquired a new stake in shares of Reddit during the first quarter worth about $82,167,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Reddit in the first quarter valued at about $9,864,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Reddit during the 1st quarter worth approximately $37,015,000.

Reddit Company Profile

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.