Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe Sells 11,000 Shares

Reddit, Inc. (NYSE:RDDT) CTO Christopher Brian Slowe sold 11,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $65.56, for a total transaction of $721,160.00. Following the completion of the sale, the chief technology officer now owns 339,295 shares in the company, valued at $22,244,180.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 20th, Christopher Brian Slowe sold 21,000 shares of Reddit stock. The stock was sold at an average price of $53.99, for a total transaction of $1,133,790.00.

Reddit Stock Performance

Shares of RDDT opened at $67.07 on Friday. Reddit, Inc. has a twelve month low of $37.35 and a twelve month high of $78.08. The business has a fifty day moving average price of $59.35.

Reddit (NYSE:RDDT) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.25. The firm had revenue of $281.20 million during the quarter, compared to analysts’ expectations of $253.86 million. During the same quarter last year, the business earned ($0.70) earnings per share. The business’s revenue for the quarter was up 53.6% compared to the same quarter last year. Equities research analysts expect that Reddit, Inc. will post -4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RDDT shares. Needham & Company LLC restated a “buy” rating and set a $75.00 price objective on shares of Reddit in a research report on Wednesday, September 18th. Morgan Stanley boosted their price target on Reddit from $63.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $84.00 price objective on shares of Reddit in a research note on Tuesday, July 30th. Bank of America boosted their target price on shares of Reddit from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their price target on shares of Reddit from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.12.

Institutional Investors Weigh In On Reddit

Several institutional investors have recently bought and sold shares of the business. Inclusive Capital Partners L.P. acquired a new position in shares of Reddit during the 1st quarter valued at $103,051,000. Vanguard Group Inc. acquired a new position in shares of Reddit during the first quarter worth about $82,167,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Reddit in the first quarter worth about $37,015,000. Blackstone Inc. purchased a new stake in shares of Reddit in the first quarter worth about $36,990,000. Finally, Marshall Wace LLP grew its stake in shares of Reddit by 117.2% in the second quarter. Marshall Wace LLP now owns 847,929 shares of the company’s stock valued at $54,174,000 after buying an additional 457,588 shares in the last quarter.

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.