KBC Group NV Makes New $391,000 Investment in Reddit, Inc. (NYSE:RDDT)

KBC Group NV acquired a new stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,391 shares of the company's stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC grew 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 valued at $33,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. purchased a new stake in shares of Reddit in the fourth quarter worth approximately $59,000. Whittier Trust Co. bought a new position in Reddit in the third quarter worth approximately $42,000. AdvisorNet Financial Inc raised its stake in Reddit by 41.9% in the fourth quarter. AdvisorNet Financial Inc now owns 681 shares of the company's stock worth $111,000 after buying an additional 201 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Reddit during the fourth quarter worth $147,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RDDT shares. The Goldman Sachs Group raised their target price on shares of Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Sanford C. Bernstein increased their price target on shares of Reddit from $65.00 to $85.00 and gave the company an "underperform" rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on shares of Reddit from $120.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Jefferies Financial Group boosted their target price on Reddit from $120.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, Morgan Stanley raised Reddit from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $200.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $159.70.

Reddit Price Performance

Shares of Reddit stock opened at $199.91 on Monday. Reddit, Inc. has a fifty-two week low of $37.35 and a fifty-two week high of $208.62. The business's fifty day moving average is $168.76 and its two-hundred day moving average is $108.78.

Insider Buying and Selling at Reddit

In other news, CEO Steve Ladd Huffman sold 14,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $125.98, for a total transaction of $1,763,720.00. Following the completion of the transaction, the chief executive officer now directly owns 651,775 shares in the company, valued at approximately $82,110,614.50. This represents a 2.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer L. Wong sold 33,334 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $173.93, for a total value of $5,797,782.62. Following the completion of the sale, the chief operating officer now owns 1,504,297 shares of the company's stock, valued at $261,642,377.21. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 245,357 shares of company stock worth $38,293,668 in the last quarter.

About Reddit

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.

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