1 week Ago By Defense World Staff
Reddit (NYSE:RDDT – Free Report) had its price objective cut by Bank of America from $190.00 to $110.00 in a research report report published on Wednesday morning,Benzinga reports.
They currently have a neutral rating on the stock.Several other analysts also recently commented on the company. JPMorgan Chase & Co.
cut their target price on Reddit from $185.00 to $110.00 and set a “neutral” rating on the stock in a research note on Tuesday.
Seaport Res Ptn upgraded Reddit to a “hold” rating in a report on Thursday, February 6th. Piper Sandler lifted their price objective on Reddit from $210.00 to $220.
00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Robert W. Baird upped their target price on shares of Reddit from $160.
00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, JMP Securities set a $155.
00 price target on shares of Reddit in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.
com, Reddit has an average rating of “Moderate Buy” and an average price target of $151.73.View Our Latest Research Report on RedditReddit Price PerformanceRDDT opened at $101.
01 on Wednesday. The firm has a market cap of $18.27 billion and a PE ratio of -13.
07. The stock has a 50-day moving average price of $143.88 and a 200-day moving average price of $139.
85. Reddit has a 1 year low of $37.35 and a 1 year high of $230.
41. Reddit (NYSE:RDDT – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.
36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12.
Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%.
As a group, sell-side analysts anticipate that Reddit will post 1.12 EPS for the current year. Insider Buying and Selling at RedditIn related news, CAO Michelle Marie Reynolds sold 11,965 shares of the stock in a transaction dated Tuesday, March 4th.
The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65.
Following the completion of the sale, the chief accounting officer now owns 48,418 shares in the company, valued at approximately $7,621,477.38. This trade represents a 19.
82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th.
The stock was sold at an average price of $172.79, for a total value of $2,419,060.00.
Following the completion of the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $106,161,139.26. This represents a 2.
23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 603,794 shares of company stock valued at $89,386,704 over the last 90 days.
Institutional Investors Weigh In On RedditA number of institutional investors have recently added to or reduced their stakes in RDDT. Plato Investment Management Ltd bought a new position in shares of Reddit during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Reddit during the 4th quarter valued at about $28,000.
Ridgewood Investments LLC grew its position in shares of Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter.
Farmers & Merchants Investments Inc. purchased a new position in shares of Reddit during the fourth quarter valued at about $33,000. Finally, Bogart Wealth LLC bought a new stake in shares of Reddit in the fourth quarter worth about $33,000.
Reddit Company Profile (Get Free Report)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.
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