1,120 Shares in Reddit, Inc. (NYSE:RDDT) Bought by Silicon Valley Capital Partners

Silicon Valley Capital Partners purchased a new position in shares of Reddit, Inc. (NYSE:RDDT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,120 shares of the company’s stock, valued at approximately $183,000.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC lifted its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Farmers & Merchants Investments Inc. bought a new stake in Reddit during the fourth quarter worth $33,000. Spire Wealth Management bought a new stake in Reddit during the fourth quarter worth $35,000. Blue Trust Inc. bought a new stake in Reddit during the fourth quarter worth $59,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Reddit during the fourth quarter worth $69,000.

Insider Transactions at Reddit

In other Reddit news, insider Benjamin Seong Lee sold 18,519 shares of the company’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 transaction of $2,704,885.14. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $125.98, for a total value of $1,763,720.00. Following the transaction, the chief executive officer now directly owns 651,775 shares of the company’s stock, valued at $82,110,614.50. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 259,357 shares of company stock worth $41,121,108.

Analysts Set New Price Targets

RDDT has been the topic of several research reports. Loop Capital boosted their target price on Reddit from $120.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Jefferies Financial Group boosted their target price on Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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. B. Riley lifted their price target on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group lifted their price target on Reddit from $105.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. One equities research 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 company’s stock. According to MarketBeat, Reddit currently has an average rating of “Moderate Buy” and an average price target of $159.70.

Reddit Trading Up 4.1 %

RDDT opened at $225.42 on Monday. The stock has a 50-day moving average price of $176.42 and a 200-day moving average price of $114.02. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $227.05.

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.