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

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.78, for a total value of $2,628,920.00. Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $115,370,905.32. This represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, January 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00.
• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total transaction of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $165.33, for a total transaction of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $176.20, for a total value of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $141.79, for a total transaction of $1,985,060.00.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $175.18 on Friday. Reddit, Inc. has a 12 month low of $37.35 and a 12 month high of $230.41. The company’s fifty day simple moving average is $184.25 and its 200 day simple moving average is $122.41.

Reddit (NYSE:RDDT) last released its earnings results on Wednesday, February 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 24.71% and a negative net margin of 37.25%. Sell-side analysts expect that Reddit, Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Reddit from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Roth Capital lowered Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price objective (up previously from $197.00) on shares of Reddit in a report on Thursday, February 13th. The Goldman Sachs Group increased their target price on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, B. Riley boosted their target price on Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.45.

Institutional Trading of Reddit

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd bought a new position in Reddit in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Reddit in the 4th quarter valued at approximately $28,000. Ridgewood Investments LLC grew its stake in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new position in Reddit during the fourth quarter worth $33,000. Finally, Bogart Wealth LLC bought a new stake in Reddit during the fourth quarter worth $33,000.

About Reddit

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.