Farmers & Merchants Investments Inc. Invests $33,000 in Reddit, Inc. (NYSE:RDDT)

Farmers & Merchants Investments Inc. bought a new position in Reddit, Inc. (NYSE:RDDT) during the fourth quarter, Holdings Channel.com reports. The fund bought 200 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp acquired a new stake in shares of Reddit during the 2nd quarter valued at $266,000. SG Americas Securities LLC acquired a new stake in shares of Reddit during the third quarter worth $612,000. Carnegie Investment Counsel lifted its holdings in shares of Reddit by 34.7% during the third quarter. Carnegie Investment Counsel now owns 170,125 shares of the company’s stock valued at $11,215,000 after purchasing an additional 43,840 shares during the last quarter. VY Capital Management Co. Ltd. acquired a new position in shares of Reddit in the 3rd quarter valued at $474,403,000. Finally, Sivia Capital Partners LLC purchased a new position in Reddit in the 3rd quarter worth about $3,222,000.

Reddit Price Performance

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

Insider Buying and Selling

In related news, CTO Christopher Brian Slowe sold 5,000 shares of the business’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 directly owns 35,252 shares in the company, valued at approximately $6,491,655.80. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Steve Ladd Huffman sold 14,000 shares of the 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 transaction, the chief executive officer now owns 614,394 shares in the company, valued at approximately $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 three months, insiders sold 259,357 shares of company stock worth $41,121,108.

Analyst Ratings Changes

A number of analysts have commented on RDDT shares. Jefferies Financial Group upped their price objective on shares of Reddit from $120.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC upped 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. Piper Sandler lifted their price objective on shares of Reddit from $150.00 to $197.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Robert W. Baird increased their target price on Reddit from $100.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their target price on Reddit from $105.00 to $176.00 and gave the stock 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 given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $159.70.

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.