Reddit, Inc. (NYSE:RDDT - Get Free Report) CEO Steve Ladd Huffman sold 14,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $75.43, for a total transaction of $1,056,020.00. Following the completion of the sale, the chief executive officer now directly owns 651,775 shares of the company's stock, valued at $49,163,388.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Steve Ladd Huffman also recently made the following trade(s):
Shares of NYSE RDDT traded down $0.95 during midday trading on Thursday, hitting $76.31. The stock had a trading volume of 3,074,661 shares, compared to its average volume of 4,414,325. The company has a fifty day moving average price of $62.59 and a 200 day moving average price of $58.74. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $78.74.
Reddit (NYSE:RDDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.25. The business had revenue of $281.20 million for the quarter, compared to analyst estimates of $253.86 million. During the same period last year, the firm earned ($0.70) earnings per share. The company's quarterly revenue was up 53.6% on a year-over-year basis. Equities analysts predict that Reddit, Inc. will post -4.11 EPS for the current year.
Several equities research analysts have commented on RDDT shares. JMP Securities restated a "market outperform" rating and set a $84.00 target price on shares of Reddit in a research report on Tuesday, July 30th. Jefferies Financial Group began coverage on Reddit in a report on Wednesday, October 9th. They set a "buy" rating and a $90.00 price objective for the company. Bank of America raised their price target on Reddit from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. B. Riley began coverage on Reddit in a research note on Friday, September 20th. They set a "buy" rating and a $75.00 price target for the company. Finally, Loop Capital raised shares of Reddit from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.28.
Check Out Our Latest Research Report on RDDT
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in shares of Reddit during the first quarter worth approximately $37,000. SOA Wealth Advisors LLC. bought a new stake in Reddit in the second quarter valued at $78,000. ANTIPODES PARTNERS Ltd bought a new position in Reddit in the 1st quarter worth about $63,000. UMB Bank n.a. acquired a new stake in shares of Reddit in the second quarter valued at approximately $88,000. Finally, Sandia Investment Management LP bought a new stake in shares of Reddit during the first quarter valued at approximately $79,000.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Reddit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.
While Reddit currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.