Insider Selling: Reddit, Inc. (NYSE:RDDT) CEO Sells $2,827,440.00 in Stock

Reddit, Inc. (NYSE:RDDT) CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the completion of the sale, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $124,083,012.24. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Steve Ladd Huffman also recently made the following trade(s):

• On Wednesday, January 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $172.79, for a total value of $2,419,060.00.
• On Tuesday, December 31st, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00.
• On Monday, December 16th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $176.20, for a total transaction of $2,466,800.00.
• On Friday, November 29th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The stock was sold at an average price of $141.79, for a total value of $1,985,060.00.
• On Friday, November 15th, Steve Ladd Huffman sold 14,000 shares of Reddit stock. The shares were sold at an average price of $125.98, for a total transaction of $1,763,720.00.

Reddit Stock Down 1.9 %

Shares of NYSE:RDDT opened at $216.91 on Friday. The business’s 50-day moving average is $173.19 and its 200 day moving average is $111.88. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $222.44.

Hedge Funds Weigh In On Reddit

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RDDT. Plato Investment Management Ltd acquired a new position in Reddit in the 4th quarter worth approximately $27,000. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Farmers & Merchants Investments Inc. purchased a new stake in Reddit in the 4th quarter worth approximately $33,000. Bogart Wealth LLC acquired a new stake in shares of Reddit during the 4th quarter worth approximately $33,000. Finally, Allworth Financial LP increased its holdings in shares of Reddit by 970.0% during the 4th quarter. Allworth Financial LP now owns 214 shares of the company’s stock valued at $35,000 after purchasing an additional 194 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have commented on RDDT shares. Bank of America increased their price target on shares of Reddit from $99.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 8th. Citigroup lifted their price objective on shares of Reddit from $120.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Guggenheim began coverage on Reddit in a report on Friday, December 20th. They issued a “buy” rating and a $210.00 target price on the stock. Piper Sandler boosted their target price on shares of Reddit from $150.00 to $197.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. Finally, Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $159.70.

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.