KBC Group NV Takes $391,000 Position in Reddit, Inc. (NYSE:RDDT)

KBC Group NV purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,391 shares of the company's stock, valued at approximately $391,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in Reddit by 302.8% in the third quarter. FMR LLC now owns 12,157,591 shares of the company's stock worth $801,428,000 after purchasing an additional 9,139,196 shares during the period. VY Capital Management Co. Ltd. bought a new position in Reddit during the 3rd quarter valued at approximately $474,403,000. Holocene Advisors LP raised its stake in Reddit by 177.6% during the third quarter. Holocene Advisors LP now owns 3,005,977 shares of the company's stock valued at $198,154,000 after buying an additional 1,923,109 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Reddit by 3,172.0% in the third quarter. Point72 Asset Management L.P. now owns 2,296,068 shares of the company's stock worth $151,357,000 after acquiring an additional 2,225,895 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Reddit by 1,519.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,650,362 shares of the company's stock worth $108,792,000 after acquiring an additional 1,548,450 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RDDT shares. Piper Sandler upped their price target on shares of Reddit from $150.00 to $197.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 14th. The Goldman Sachs Group upped their target price on shares of Reddit from $105.00 to $176.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Raymond James raised their price target on shares of Reddit from $150.00 to $200.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 21st. Roth Capital cut Reddit from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Robert W. Baird boosted their price target on Reddit from $100.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.70.

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Reddit Trading Down 1.9 %

Shares of NYSE:RDDT traded down $4.25 during midday trading on Thursday, hitting $216.91. The company had a trading volume of 6,397,394 shares, compared to its average volume of 4,763,005. The company has a fifty day moving average of $173.19 and a two-hundred day moving average of $111.88. Reddit, Inc. has a 12-month low of $37.35 and a 12-month high of $222.44.

Insiders Place Their Bets

In related news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction on 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 owns 614,394 shares in the company, valued at approximately $124,083,012.24. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Vollero sold 19,838 shares of the stock in a transaction on Monday, November 25th. The stock was 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 of the company's stock, valued at $100,771,740.30. The trade was a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,357 shares of company stock worth $41,121,108 over the last quarter.

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.