Christopher Brian Slowe Sells 15,500 Shares of Reddit (NYSE:RDDT) Stock
Reddit Inc. (NYSE:RDDT - Get Free Report) CTO Christopher Brian Slowe sold 15,500 shares of Reddit stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $150.67, for a total transaction of $2,335,385.00. Following the sale, the chief technology officer directly owned 38,413 shares in the company, valued at approximately $5,787,686.71. This trade represents a 28.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Christopher Brian Slowe also recently made the following trade(s): On Monday, March 23rd, Christopher Brian Slowe sold 9,500 shares of Reddit stock. The shares were sold at an average price of $141.28, for a total transaction of $1,342,160.00. On Monday, March 9th, Christopher Brian Slowe sold 9,500 shares of Reddit stock. The stock was sold at an average price of $136.55, for a total transaction of $1,297,225.00. On Monday, February 23rd, Christopher Brian Slowe sold 19,036 shares of Reddit stock. The stock was sold at an average price of $144.05, for a total transaction of $2,742,135.80. On Tuesday, February 10th, Christopher Brian Slowe sold 11,464 shares of Reddit stock. The shares were sold at an average price of $149.74, for a total transaction of $1,716,619.36. 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. Reddit Trading Up 1.1%RDDT stock traded up $1.51 during mid-day trading on Friday, reaching $139.89. The company's stock had a trading volume of 3,190,576 shares, compared to its average volume of 5,384,568. The company's 50 day moving average is $142.41 and its two-hundred day moving average is $191.14. Reddit Inc. has a fifty-two week low of $90.78 and a fifty-two week high of $282.95. The stock has a market cap of $26.72 billion, a PE ratio of 53.39, a P/E/G ratio of 1.05 and a beta of 2.40. Reddit (NYSE:RDDT - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.28. Reddit had a return on equity of 20.89% and a net margin of 24.05%.The business had revenue of $725.61 million for the quarter, compared to analysts' expectations of $665.80 million. During the same period in the previous year, the firm posted $0.36 EPS. The business's revenue for the quarter was up 69.7% compared to the same quarter last year. On average, analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year. Analysts Set New Price TargetsSeveral research analysts have recently commented on RDDT shares. Piper Sandler reiterated an "overweight" rating and set a $205.00 price target (down from $290.00) on shares of Reddit in a report on Friday, February 6th. Argus set a $300.00 price objective on shares of Reddit in a research report on Friday, January 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Reddit in a research note on Monday, December 29th. Roth Mkm boosted their target price on shares of Reddit from $210.00 to $215.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Finally, B. Riley Financial raised their price target on shares of Reddit from $245.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $238.46.Read Our Latest Research Report on RDDTInstitutional Trading of RedditSeveral institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Reddit by 8.9% in the 4th quarter. Vanguard Group Inc. now owns 13,322,048 shares of the company's stock valued at $3,062,339,000 after buying an additional 1,083,540 shares during the period. Capital World Investors purchased a new stake in shares of Reddit during the fourth quarter worth $1,293,258,000. State Street Corp increased its position in shares of Reddit by 6.0% during the fourth quarter. State Street Corp now owns 2,631,332 shares of the company's stock worth $604,864,000 after acquiring an additional 149,401 shares during the period. Geode Capital Management LLC raised its stake in shares of Reddit by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 2,382,712 shares of the company's stock valued at $546,789,000 after acquiring an additional 106,821 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Reddit by 11.4% in the fourth quarter. Morgan Stanley now owns 2,372,443 shares of the company's stock valued at $545,354,000 after acquiring an additional 242,709 shares in the last quarter. Key Reddit NewsHere are the key news stories impacting Reddit this week:Reddit Company Profile (Get Free Report)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.Featured StoriesThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Before you consider Reddit, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.We are about to experience the greatest A.I. boom in stock market history...
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