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

by · The Markets Daily

Reddit Inc. (NYSE:RDDT – Get Free Report) CEO Steve Ladd Huffman sold 18,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $138.81, for a total transaction of $2,498,580.00. Following the sale, the chief executive officer directly owned 448,576 shares of the company’s stock, valued at approximately $62,266,834.56. The trade was a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, January 30th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $183.18, for a total transaction 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 value 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 value of $4,153,680.00.
  • On Monday, December 15th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The stock was sold at an average price of $220.28, for a total value of $3,965,040.00.
  • On Friday, November 28th, Steve Ladd Huffman sold 18,000 shares of Reddit stock. The shares were sold at an average price of $215.19, for a total value of $3,873,420.00.

Reddit Trading Up 6.0%

Shares of NYSE:RDDT traded up $8.40 during mid-day trading on Wednesday, hitting $147.63. 5,952,572 shares of the company traded hands, compared to its average volume of 6,787,228. The stock has a 50-day moving average price of $207.07 and a two-hundred day moving average price of $214.36. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. The stock has a market cap of $28.20 billion, a P/E ratio of 56.35, a P/E/G ratio of 1.03 and a beta of 2.17.

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

Analyst Upgrades and Downgrades

RDDT has been the topic of several analyst reports. UBS Group set a $265.00 price target on shares of Reddit in a report on Tuesday, January 13th. Guggenheim boosted their target price on Reddit from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. The Goldman Sachs Group reduced their target price on Reddit from $236.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, February 6th. Bank of America lifted their price target on Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $200.00 price objective on Reddit in a research report on Friday, February 6th. 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’s stock. Based on data from MarketBeat.com, Reddit presently has an average rating of “Moderate Buy” and a consensus price target of $238.78.

View Our Latest Analysis on RDDT

Institutional Investors Weigh In On Reddit

Hedge funds have recently modified their holdings of the stock. Huntington National Bank grew its holdings in Reddit by 25.6% during the third quarter. Huntington National Bank now owns 270 shares of the company’s stock valued at $62,000 after purchasing an additional 55 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Reddit by 6.1% during the 4th quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock worth $246,000 after acquiring an additional 62 shares during the period. Roxbury Financial LLC increased its holdings in Reddit by 7.4% in the 4th quarter. Roxbury Financial LLC now owns 929 shares of the company’s stock worth $214,000 after acquiring an additional 64 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in Reddit by 0.3% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 20,201 shares of the company’s stock valued at $3,023,000 after acquiring an additional 65 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in Reddit by 2.8% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,464 shares of the company’s stock valued at $567,000 after acquiring an additional 66 shares during the period.

About Reddit

(Get Free Report)

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.

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