Foundations Investment Advisors LLC Acquires 155 Shares of Reddit, Inc. (NYSE:RDDT)

Foundations Investment Advisors LLC grew its stake in shares of Reddit, Inc. (NYSE:RDDT) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,325 shares of the company’s stock after acquiring 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 have also recently made changes to their positions in the company. Ridgewood Investments LLC increased its holdings in Reddit by 100.0% during the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Reddit in the 3rd quarter worth $42,000. Blue Trust Inc. purchased a new stake in Reddit in the fourth quarter worth about $59,000. Daiwa Securities Group Inc. purchased a new position in shares of Reddit during the 3rd quarter valued at about $85,000. Finally, AdvisorNet Financial Inc grew its stake in shares of Reddit by 41.9% during the 4th quarter. AdvisorNet Financial Inc now owns 681 shares of the company’s stock valued at $111,000 after acquiring an additional 201 shares during the period.

Reddit Stock Performance

Shares of RDDT stock opened at $201.68 on Thursday. The company’s 50-day simple moving average is $165.55 and its two-hundred day simple moving average is $106.33. Reddit, Inc. has a one year low of $37.35 and a one year high of $205.57.

Reddit (NYSE:RDDT) last issued its earnings results on Tuesday, October 29th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.23. The business had revenue of $348.40 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 67.9% compared to the same quarter last year. On average, analysts anticipate that Reddit, Inc. will post -3.48 EPS for the current fiscal year.

Insider Activity at Reddit

In other Reddit news, COO Jennifer L. Wong sold 33,334 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $173.93, for a total transaction of $5,797,782.62. Following the completion of the sale, the chief operating officer now owns 1,504,297 shares in the company, valued at $261,642,377.21. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Porter Gale sold 5,000 shares of Reddit stock in a transaction on Friday, November 1st. The shares were 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 in the company, valued at $5,314,909.60. This represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,357 shares of company stock worth $40,449,488 over the last three months.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Reddit from $150.00 to $200.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company initiated coverage on Reddit in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $206.00 price objective for the company. Robert W. Baird lifted their target price on Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Roth Mkm lowered shares of Reddit from a “buy” rating to a “neutral” rating and increased their price objective for the company from $116.00 to $195.00 in a report on Wednesday, January 22nd. Finally, Sanford C. Bernstein boosted their target price on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.