Newbridge Financial Services Group Inc. Has $376,000 Holdings in Reddit, Inc. (NYSE:RDDT)

Newbridge Financial Services Group Inc. lifted its position in Reddit, Inc. (NYSE:RDDT) by 666.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,300 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Reddit were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RDDT. Stephens Investment Management Group LLC acquired a new position in Reddit during the fourth quarter worth $21,722,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Reddit during the 4th quarter worth about $33,000. Kingsview Wealth Management LLC increased its holdings in shares of Reddit by 4.5% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,986 shares of the company’s stock valued at $651,000 after acquiring an additional 171 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Reddit in the 4th quarter valued at approximately $566,000. Finally, Geneva Partners LLC acquired a new stake in Reddit in the 4th quarter worth approximately $908,000.

Insider Buying and Selling

In other news, COO Jennifer L. Wong sold 33,333 shares of the company’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 sale, the chief operating officer now owns 1,542,457 shares of the company’s stock, valued at approximately $197,635,015.41. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction dated 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 transaction, the chief executive officer now directly owns 614,394 shares of the company’s stock, valued at $124,083,012.24. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 259,357 shares of company stock valued at $41,121,108 over the last quarter.

Reddit Stock Up 4.1 %

NYSE:RDDT opened at $225.42 on Monday. The company has a 50-day moving average of $176.42 and a 200-day moving average of $114.02. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $227.05.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Bank of America lifted their target price on shares of Reddit from $99.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Roth Capital cut shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Needham & Company LLC raised their price target on Reddit from $120.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Roth Mkm cut Reddit from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $116.00 to $195.00 in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $159.70.

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.