Silicon Valley Capital Partners Invests $183,000 in Reddit, Inc. (NYSE:RDDT)

Silicon Valley Capital Partners bought a new position in shares of Reddit, Inc. (NYSE:RDDT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,120 shares of the company’s stock, valued at approximately $183,000.

Several other large investors also recently modified their holdings of RDDT. Ridgewood Investments LLC lifted its position 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 buying an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit during the 4th quarter worth $33,000. Spire Wealth Management bought a new stake in shares of Reddit during the 4th quarter worth $35,000. Whittier Trust Co. bought a new stake in shares of Reddit during the 3rd quarter worth $42,000. Finally, Blue Trust Inc. bought a new position in Reddit in the fourth quarter valued at about $59,000.

Wall Street Analysts Forecast Growth

RDDT has been the subject of several research reports. Roth Capital downgraded Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. B. Riley increased their target price on Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Roth Mkm downgraded Reddit from a “buy” rating to a “neutral” rating and increased their target price for the company from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Morgan Stanley upgraded Reddit from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $200.00 in a research report on Monday, December 9th. Finally, Guggenheim assumed coverage on Reddit in a research report on Friday, December 20th. They issued a “buy” rating and a $210.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.70.

Reddit Price Performance

Shares of Reddit stock opened at $225.42 on Monday. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $227.05. The stock has a 50 day moving average price of $176.42 and a two-hundred day moving average price of $114.02.

Insider Buying and Selling at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 35,252 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Also, CEO Steve Ladd Huffman sold 14,000 shares of the firm’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 value of $2,827,440.00. Following the completion of the sale, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $124,083,012.24. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,357 shares of company stock valued at $41,121,108.

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.