Reddit, Inc. (NYSE:RDDT) Shares Purchased by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its holdings in shares of Reddit, Inc. (NYSE:RDDT) by 3.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,325 shares of the company’s stock after buying an additional 155 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Reddit were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC grew its stake in Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. purchased a new stake in Reddit in the fourth quarter valued at approximately $59,000. Whittier Trust Co. acquired a new position in Reddit in the 3rd quarter worth approximately $42,000. AdvisorNet Financial Inc raised its position in Reddit by 41.9% during the 4th quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock worth $111,000 after buying an additional 201 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Reddit during the 4th quarter valued at approximately $147,000.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $113.13, for a total transaction of $1,583,820.00. Following the sale, the chief executive officer now owns 651,775 shares of the company’s stock, valued at approximately $73,735,305.75. The trade was a 2.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Porter Gale sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $114.40, for a total value of $572,000.00. Following the completion of the transaction, the director now owns 46,459 shares of the company’s stock, valued at $5,314,909.60. The trade was a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,357 shares of company stock worth $40,449,488 in the last three months.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on RDDT shares. Robert W. Baird raised their target price on shares of Reddit from $100.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Needham & Company LLC boosted their price objective on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Raymond James lifted their price target on Reddit from $150.00 to $200.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price objective on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their target price on shares of Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.70.

Reddit Stock Up 3.6 %

Shares of NYSE RDDT opened at $201.68 on Thursday. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $205.57. The company has a 50-day moving average of $165.55 and a 200 day moving average of $106.33.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.23. The business had revenue of $348.40 million during the quarter, compared to analyst estimates of $313.61 million. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The firm’s revenue for the quarter was up 67.9% compared to the same quarter last year. As a group, research analysts forecast that Reddit, Inc. will post -3.48 earnings per share for the current fiscal year.

Reddit 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.