Reddit, Inc. (NYSE:RDDT) Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB lessened its holdings in Reddit, Inc. (NYSE:RDDT) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,908 shares of the company’s stock after selling 37,700 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Reddit were worth $3,581,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of RDDT. Kingsview Wealth Management LLC boosted its holdings in Reddit by 4.5% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock worth $651,000 after buying an additional 171 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of Reddit during the 4th quarter worth about $566,000. Geneva Partners LLC purchased a new stake in shares of Reddit during the 4th quarter worth about $908,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Reddit in the 4th quarter valued at about $4,330,000. Finally, WT Asset Management Ltd acquired a new position in Reddit in the 4th quarter worth about $8,188,000.

Reddit Trading Up 4.1 %

Shares of RDDT opened at $225.42 on Friday. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $227.05. The firm has a 50-day simple moving average of $176.42 and a 200-day simple moving average of $113.70.

Insider Activity at Reddit

In other Reddit news, insider Benjamin Seong Lee sold 18,519 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $146.06, for a total transaction of $2,704,885.14. Following the sale, the insider now directly owns 138,401 shares in the company, valued at approximately $20,214,850.06. The trade was a 11.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher Brian Slowe sold 21,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $146.01, for a total transaction of $3,066,210.00. Following the sale, the chief technology officer now directly owns 297,925 shares in the company, valued at approximately $43,500,029.25. This represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,357 shares of company stock worth $41,121,108 in the last three months.

Analysts Set New Price Targets

RDDT has been the subject of several recent analyst reports. Piper Sandler boosted their price target on shares of Reddit from $150.00 to $197.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. B. Riley boosted their target price on shares of Reddit from $112.00 to $187.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Loop Capital raised their price target on shares of Reddit from $120.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley upgraded Reddit from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $200.00 in a research note on Monday, December 9th. Finally, Seaport Res Ptn upgraded Reddit to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average target price of $159.70.

About Reddit

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.