The stock of Reddit Inc (NYSE:RDDT) last traded at $132.06, up 3.37% from the previous session.
RDDT stock price is now 63.12% away from the 50-day moving average and 106.93% away from the 200-day moving average. The market capitalization of the company currently stands at $23.19B.
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With the price target of $90, Jefferies recently initiated with Buy rating for Reddit Inc (NYSE: RDDT). On September 20, 2024, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $75, while ‘Loop Capital’ rates the stock as ‘Buy’
In other news, Tencent Holdings Ltd, 10% Owner sold 722,680 shares of the company’s stock on Nov 11 ’24. The stock was sold for $96,171,528 at an average price of $133.08. Upon completion of the transaction, the 10% Owner now directly owns 10,014,317 shares in the company, valued at $1.32 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 13 ’24, 10% Owner Tencent Holdings Ltd sold 460,954 shares of the business’s stock. A total of $61,153,418 was realized by selling the stock at an average price of $132.67. This leaves the insider owning 9,238,594 shares of the company worth $1.22 billion. A total of 46.62% of the company’s stock is owned by insiders.
During the past 12 months, Reddit Inc has had a low of $37.35 and a high of $139.04. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 11.96, and a quick ratio of 11.96. The fifty day moving average price for RDDT is $79.457 and a two-hundred day moving average price translates $63.481655 for the stock.
The latest earnings results from Reddit Inc (NYSE: RDDT) was released for 2024-09-30. The net profit margin was -47.83% and return on equity was -31.80% for RDDT. The company reported revenue of $348.35 million for the quarter, compared to $207.51 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.87 percent.
