Bogart Wealth LLC Buys Shares of 200 Reddit, Inc. (NYSE:RDDT)

Bogart Wealth LLC bought a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200 shares of the company’s stock, valued at approximately $33,000.

Other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC raised its holdings in shares of 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 acquiring an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in shares of Reddit during the fourth quarter valued at approximately $33,000. Spire Wealth Management acquired a new position in shares of Reddit during the fourth quarter valued at approximately $35,000. Blue Trust Inc. purchased a new stake in shares of Reddit in the fourth quarter valued at approximately $59,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Reddit in the fourth quarter valued at approximately $69,000.

Insider Activity

In other news, CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $184.15, for a total value of $920,750.00. Following the sale, the chief technology officer now directly owns 35,252 shares in the company, valued at approximately $6,491,655.80. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 19,838 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $143.22, for a total value of $2,841,198.36. Following the completion of the sale, the chief financial officer now owns 703,615 shares in the company, valued at approximately $100,771,740.30. This represents a 2.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,357 shares of company stock worth $39,357,388.

Reddit Stock Performance

NYSE:RDDT opened at $196.37 on Friday. The stock’s fifty day moving average is $182.33 and its two-hundred day moving average is $119.28. 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 (EPS) 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%. Equities research analysts predict that Reddit, Inc. will post -3.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RDDT has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup upped their price target on Reddit from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim initiated coverage on Reddit in a research report on Friday, December 20th. They issued a “buy” rating and a $210.00 price target for the company. Seaport Res Ptn upgraded Reddit to a “hold” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price target on Reddit from $142.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.45.

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.