Jennifer L. Wong Sells 33,334 Shares of Reddit, Inc. (NYSE:RDDT) Stock

Reddit, Inc. (NYSE:RDDT) COO Jennifer L. Wong sold 33,334 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $93.99, for a total value of $3,133,062.66. Following the sale, the chief operating officer now owns 1,466,119 shares of the company’s stock, valued at approximately $137,800,524.81. This represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Reddit Stock Performance

NYSE:RDDT opened at $96.04 on Friday. Reddit, Inc. has a fifty-two week low of $40.17 and a fifty-two week high of $230.41. The firm has a market capitalization of $17.37 billion and a PE ratio of -12.42. The stock’s fifty day moving average is $131.49 and its 200 day moving average is $140.37.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on RDDT shares. Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Guggenheim decreased their target price on shares of Reddit from $210.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. B. Riley lifted their target price on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley dropped their target price on shares of Reddit from $210.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group decreased their price target on Reddit from $185.00 to $124.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Reddit has an average rating of “Moderate Buy” and a consensus target price of $142.22.

Institutional Trading of Reddit

Institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Reddit by 2.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock valued at $966,000 after buying an additional 120 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 147 shares in the last quarter. UMB Bank n.a. grew its holdings in Reddit by 10.8% during the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after acquiring an additional 150 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Reddit by 3.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock valued at $870,000 after purchasing an additional 155 shares in the last quarter.

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.