Christopher Brian Slowe Sells 11,000 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,000 shares of Reddit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $124.08, for a total value of $1,364,880.00. Following the transaction, the chief technology officer now directly owns 281,213 shares in the company, valued at $34,892,909.04. The trade was a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, February 24th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The stock was sold at an average price of $162.80, for a total value of $3,418,800.00.
• On Wednesday, January 22nd, Christopher Brian Slowe sold 5,000 shares of Reddit stock. The shares were sold at an average price of $184.15, for a total value of $920,750.00.

Reddit Trading Down 4.3 %

Shares of RDDT traded down $5.36 on Wednesday, reaching $120.07. The company’s stock had a trading volume of 4,848,989 shares, compared to its average volume of 5,334,641. The stock has a market capitalization of $21.72 billion and a PE ratio of -15.53. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $230.41. The firm has a fifty day moving average of $168.60 and a 200-day moving average of $136.54.

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

Institutional Trading of Reddit

Institutional investors have recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new position in Reddit during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in Reddit in the fourth quarter worth $28,000. Ridgewood Investments LLC raised its stake in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit in the 4th quarter worth about $33,000. Finally, Bogart Wealth LLC bought a new position in Reddit during the fourth quarter valued at about $33,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RDDT. Guggenheim dropped their price target on shares of Reddit from $210.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Roth Mkm lowered shares of Reddit from a “buy” rating to a “neutral” rating and boosted their target price for the company from $116.00 to $195.00 in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price target on Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley raised their target price on Reddit from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Reddit currently has an average rating of “Hold” and an average price target of $162.68.

Reddit Company Profile

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.