TFB Advisors LLC Takes Position in Reddit, Inc. (NYSE:RDDT)

TFB Advisors LLC acquired a new position in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,507 shares of the company’s stock, valued at approximately $410,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC lifted its stake in shares of Reddit by 100.0% during the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. lifted its position in Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after buying an additional 150 shares during the period. Foundations Investment Advisors LLC lifted its position in 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 buying an additional 155 shares during the period. Kingsview Wealth Management LLC boosted its stake in Reddit by 4.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock worth $651,000 after buying an additional 171 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. purchased a new stake in Reddit in the 4th quarter valued at about $33,000.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RDDT. JMP Securities upped their price target on shares of Reddit from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Monday, January 27th. Loop Capital lifted their target price on Reddit from $120.00 to $180.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Citigroup upped their price target on Reddit from $120.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC lifted their price target on shares of Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Reddit has an average rating of “Moderate Buy” and an average target price of $162.20.

Insider Activity at Reddit

In other Reddit news, COO Jennifer L. Wong sold 33,333 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $128.13, for a total value of $4,270,957.29. Following the completion of the transaction, the chief operating officer now directly owns 1,542,457 shares in the company, valued at $197,635,015.41. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $201.96, for a total transaction of $2,827,440.00. Following the sale, the chief executive officer now owns 614,394 shares in the company, valued at $124,083,012.24. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,357 shares of company stock valued at $41,121,108 over the last ninety days.

Reddit Trading Up 1.5 %

Shares of RDDT opened at $216.96 on Thursday. The firm has a 50-day moving average price of $179.35 and a 200 day moving average price of $116.59. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. As a group, sell-side analysts predict that Reddit, Inc. will post -3.45 EPS for the current year.

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.