Insider Selling: Reddit, Inc. (NYSE:RDDT) CFO Sells $2,841,198.36 in Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $143.22, for a total value of $2,841,198.36. Following the completion of the transaction, the chief financial officer now directly owns 703,615 shares of the company’s stock, valued at $100,771,740.30. The trade was a 2.74 % decrease in their position. 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 Wednesday, September 18th, Andrew Vollero sold 11,287 shares of Reddit stock. The shares were sold at an average price of $64.00, for a total value of $722,368.00.

Reddit Stock Up 0.5 %

RDDT stock opened at $140.69 on Friday. Reddit, Inc. has a one year low of $37.35 and a one year high of $158.49. The firm’s 50 day moving average price is $99.72 and its 200-day moving average price is $74.27.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Whittier Trust Co. purchased a new stake in shares of Reddit in the 3rd quarter valued at approximately $42,000. SOA Wealth Advisors LLC. purchased a new position in shares of Reddit during the second quarter worth $78,000. Daiwa Securities Group Inc. acquired a new stake in shares of Reddit in the third quarter valued at $85,000. UMB Bank n.a. acquired a new stake in shares of Reddit in the second quarter valued at $88,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Reddit in the 3rd quarter valued at $144,000.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of research analyst reports. JMP Securities lifted their price target on shares of Reddit from $118.00 to $160.00 and gave the company a “market outperform” rating in a research note on Monday, November 25th. The Goldman Sachs Group boosted their target price on shares of Reddit from $60.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Citigroup raised their price target on shares of Reddit from $70.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $150.00 target price (up previously from $115.00) on shares of Reddit in a report on Tuesday, November 19th. Finally, Raymond James raised their target price on Reddit from $70.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.17.

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.