Reddit, Inc. (NYSE:RDDT) Holdings Boosted by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. grew its stake in shares of Reddit, Inc. (NYSE:RDDT) by 666.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,300 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Reddit were worth $376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp bought a new stake in Reddit in the 2nd quarter valued at about $266,000. SG Americas Securities LLC bought a new stake in shares of Reddit during the third quarter valued at approximately $612,000. Carnegie Investment Counsel boosted its position in shares of Reddit by 34.7% during the third quarter. Carnegie Investment Counsel now owns 170,125 shares of the company’s stock worth $11,215,000 after buying an additional 43,840 shares during the period. VY Capital Management Co. Ltd. bought a new position in Reddit in the 3rd quarter worth approximately $474,403,000. Finally, Sivia Capital Partners LLC acquired a new stake in Reddit in the 3rd quarter valued at approximately $3,222,000.

Reddit Stock Performance

NYSE RDDT opened at $225.42 on Monday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $227.05. The stock’s 50-day moving average price is $176.42 and its two-hundred day moving average price is $114.02.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Loop Capital boosted their price target on Reddit from $120.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Raymond James upped their price objective on shares of Reddit from $150.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Piper Sandler raised their target price on shares of Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a research note on Tuesday, January 14th. Guggenheim initiated coverage on shares of Reddit in a research note on Friday, December 20th. They issued a “buy” rating and a $210.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.70.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total value of $920,750.00. Following the completion of the sale, the chief technology officer now directly owns 35,252 shares of the company’s stock, valued at approximately $6,491,655.80. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $201.96, for a total value of $2,827,440.00. Following the transaction, the chief executive officer now directly owns 614,394 shares in the company, valued at approximately $124,083,012.24. This trade represents a 2.23 % 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 valued at $41,121,108 over the last ninety days.

Reddit Company 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.