Reddit (NYSE:RDDT) CTO Christopher Brian Slowe Sells 11,464 Shares

Reddit Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,464 shares of Reddit stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $149.74, for a total value of $1,716,619.36. Following the transaction, the chief technology officer directly owned 165,694 shares in the company, valued at approximately $24,811,019.56. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The shares were sold at an average price of $212.61, for a total transaction of $2,976,540.00.
• On Thursday, January 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $253.88, for a total transaction of $3,554,320.00.
• On Monday, December 22nd, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $233.53, for a total transaction of $3,269,420.00.
• On Monday, December 8th, Christopher Brian Slowe sold 14,000 shares of Reddit stock. The stock was sold at an average price of $233.99, for a total transaction of $3,275,860.00.
• On Monday, November 24th, Christopher Brian Slowe sold 24,000 shares of Reddit stock. The stock was sold at an average price of $192.72, for a total transaction of $4,625,280.00.

Reddit Price Performance

Shares of NYSE:RDDT traded down $8.34 on Thursday, reaching $130.95. 8,671,783 shares of the company traded hands, compared to its average volume of 6,709,134. The stock has a market capitalization of $24.82 billion, a PE ratio of 49.98, a P/E/G ratio of 1.03 and a beta of 2.17. The company’s 50 day moving average is $216.50 and its 200-day moving average is $215.06. Reddit Inc. has a fifty-two week low of $79.75 and a fifty-two week high of $282.95.

Reddit (NYSE:RDDT) last announced its earnings results on Thursday, February 5th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The company had revenue of $725.61 million for the quarter, compared to analyst estimates of $665.80 million. During the same period in the previous year, the firm earned $0.36 earnings per share. Reddit’s revenue for the quarter was up 69.7% compared to the same quarter last year. As a group, analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raiffeisen Bank International AG purchased a new stake in shares of Reddit during the 3rd quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in Reddit in the third quarter worth approximately $30,000. Cornerstone Planning Group LLC raised its position in Reddit by 13,500.0% during the third quarter. Cornerstone Planning Group LLC now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in Reddit in the fourth quarter valued at approximately $33,000. Finally, Financial Perspectives Inc bought a new stake in Reddit in the second quarter worth approximately $34,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RDDT. Robert W. Baird set a $200.00 target price on shares of Reddit in a research report on Friday, February 6th. Zacks Research lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Jefferies Financial Group lifted their price objective on shares of Reddit from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. China Renaissance assumed coverage on Reddit in a report on Tuesday, December 9th. They issued a “buy” rating and a $300.00 target price for the company. Finally, Bank of America raised their target price on Reddit from $180.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.93.

About Reddit

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.