Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 5,068 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 5,068 shares of Reddit stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $111.28, for a total value of $563,967.04. Following the completion of the sale, the chief technology officer now owns 20,184 shares of the company’s stock, valued at $2,246,075.52. The trade was a 20.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, April 22nd, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The shares were sold at an average price of $99.75, for a total transaction of $1,097,250.00.
• On Monday, March 24th, Christopher Brian Slowe sold 11,000 shares of Reddit stock. The stock was sold at an average price of $124.08, for a total transaction of $1,364,880.00.
• On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The shares were sold at an average price of $162.80, for a total transaction of $3,418,800.00.

Reddit Trading Up 4.6 %

Shares of NYSE:RDDT opened at $112.07 on Friday. Reddit, Inc. has a twelve month low of $40.85 and a twelve month high of $230.41. The company has a market cap of $20.27 billion and a PE ratio of -14.50. The company’s 50 day moving average is $123.49 and its 200 day moving average is $141.32.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share 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%. Equities research analysts predict that Reddit, Inc. will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reddit

A number of institutional investors have recently modified their holdings of RDDT. Ridgewood Investments LLC grew its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Proficio Capital Partners LLC boosted its position in Reddit by 2.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock worth $966,000 after purchasing an additional 120 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Reddit by 148.5% during the 4th quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 147 shares during the period. UMB Bank n.a. increased its holdings in shares of Reddit by 10.8% during the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock valued at $251,000 after purchasing an additional 150 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock valued at $870,000 after purchasing an additional 155 shares during the period.

Analysts Set New Price Targets

RDDT has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Reddit from $215.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. B. Riley raised their price objective on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Roth Mkm downgraded shares of Reddit from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Citigroup lowered their price target on shares of Reddit from $220.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Loop Capital reiterated a “buy” rating and set a $210.00 price objective on shares of Reddit in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and a consensus price target of $142.22.

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.