Andrew Vollero Sells 19,838 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) CFO Andrew Vollero sold 19,838 shares of Reddit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the transaction, the chief financial officer now directly owns 703,615 shares in the company, valued at approximately $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $64.00, for a total transaction of $722,368.00.

Reddit Stock Performance

Shares of RDDT stock traded up $4.43 during midday trading on Wednesday, hitting $140.04. 5,524,606 shares of the company were exchanged, compared to its average volume of 5,046,465. The firm’s 50 day moving average price is $96.72 and its two-hundred day moving average price is $73.23. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $158.49.

Reddit (NYSE:RDDT) last announced its earnings results on Tuesday, October 29th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.23. The business had revenue of $348.40 million during the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative net margin of 47.83% and a negative return on equity of 40.54%. The business’s revenue was up 67.9% compared to the same quarter last year. On average, sell-side analysts predict that Reddit, Inc. will post -3.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

RDDT has been the topic of a number of recent analyst reports. B. Riley reissued a “buy” rating and set a $112.00 price target (up from $87.00) on shares of Reddit in a research report on Wednesday, October 30th. Roth Mkm raised their price objective on shares of Reddit from $89.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cannonball Research initiated coverage on shares of Reddit in a report on Tuesday, August 6th. They set a “buy” rating and a $67.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Reddit from $59.00 to $77.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Raymond James raised their price objective on shares of Reddit from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.17.

Institutional Trading of Reddit

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in Reddit in the 3rd quarter valued at about $3,929,000. Sanctuary Advisors LLC bought a new stake in Reddit in the 3rd quarter valued at about $144,000. SOA Wealth Advisors LLC. boosted its holdings in Reddit by 56.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock valued at $126,000 after purchasing an additional 691 shares during the period. Geode Capital Management LLC boosted its holdings in Reddit by 176.0% in the 3rd quarter. Geode Capital Management LLC now owns 824,200 shares of the company’s stock valued at $54,355,000 after purchasing an additional 525,619 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Reddit in the 3rd quarter valued at about $495,000.

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.