Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero Sells 100,000 Shares of Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 100,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $124.08, for a total transaction of $12,408,000.00. Following the sale, the chief financial officer now directly owns 499,295 shares of the company’s stock, valued at approximately $61,952,523.60. This represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Andrew Vollero also recently made the following trade(s):

• On Monday, February 24th, Andrew Vollero sold 48,122 shares of Reddit stock. The stock was sold at an average price of $162.80, for a total transaction of $7,834,261.60.

Reddit Price Performance

Reddit stock opened at $120.07 on Thursday. The firm has a market capitalization of $21.72 billion and a P/E ratio of -15.53. The stock has a fifty day moving average price of $168.60 and a two-hundred day moving average price of $136.54. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41.

Reddit (NYSE:RDDT) last announced its earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, equities research analysts predict that Reddit, Inc. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in Reddit during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC bought a new stake in shares of Reddit during the fourth quarter worth $28,000. Ridgewood Investments LLC increased 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. bought a new position in shares of Reddit in the fourth quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new position in Reddit during the 4th quarter worth about $33,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on RDDT shares. JPMorgan Chase & Co. lifted their price objective on Reddit from $142.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Morgan Stanley increased their price objective on Reddit from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Citigroup reaffirmed a “neutral” rating on shares of Reddit in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price target on shares of Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.86.

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.