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

Wilmington Savings Fund Society FSB reduced its position in shares of Reddit, Inc. (NYSE:RDDT) by 63.2% during the fourth quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC raised its holdings in Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. increased its position in shares of Reddit by 10.8% in the 4th quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after purchasing an additional 150 shares during the last quarter. Foundations Investment Advisors LLC lifted its position in shares of Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after purchasing an additional 155 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Reddit by 4.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock worth $651,000 after purchasing an additional 171 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its holdings in Reddit by 41.9% in the fourth quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock valued at $111,000 after buying an additional 201 shares during the last quarter.

Insider Activity

In other news, CFO Andrew Vollero sold 19,838 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $143.22, for a total transaction of $2,841,198.36. Following the completion of the transaction, the chief financial officer now owns 703,615 shares of the company’s stock, valued at approximately $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin Seong Lee sold 18,519 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $146.06, for a total value of $2,704,885.14. Following the completion of the sale, the insider now owns 138,401 shares of the company’s stock, valued at $20,214,850.06. This represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,357 shares of company stock valued at $41,121,108.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on Reddit from $105.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Roth Mkm cut shares of Reddit from a “buy” rating to a “neutral” rating and increased their target price for the stock from $116.00 to $195.00 in a report on Wednesday, January 22nd. Piper Sandler boosted their price objective on shares of Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Needham & Company LLC upped their target price on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Loop Capital raised their price target on Reddit from $120.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.70.

Reddit Trading Up 4.1 %

NYSE:RDDT opened at $225.42 on Friday. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $227.05. The firm’s fifty day simple moving average is $176.42 and its 200 day simple moving average is $113.70.

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.