Reddit (NYSE:RDDT) Upgraded to "Hold" at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Reddit (NYSE:RDDT - Free Report) to a hold rating in a report published on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on the company. Raymond James upped their price target on Reddit from $150.00 to $200.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 21st. B. Riley raised their target price on shares of Reddit from $112.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Jefferies Financial Group boosted their price target on shares of Reddit from $120.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. JMP Securities raised their price objective on Reddit from $160.00 to $190.00 and gave the company a "market outperform" rating in a research report on Monday, January 27th. 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 on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $162.20.

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Reddit Stock Performance

Shares of NYSE RDDT traded up $0.08 during mid-day trading on Thursday, reaching $225.31. The company's stock had a trading volume of 3,536,718 shares, compared to its average volume of 4,740,563. Reddit has a 52 week low of $37.35 and a 52 week high of $230.41. The stock has a fifty day moving average of $176.42 and a two-hundred day moving average of $114.38.

Insider Transactions at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of Reddit stock in a transaction on Friday, January 31st. The stock was sold at an average price of $201.96, for a total transaction 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. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Christopher Brian Slowe sold 5,000 shares of the company's stock in a transaction 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 $6,491,655.80. This represents a 12.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,357 shares of company stock worth $41,121,108.

Institutional Investors Weigh In On Reddit

Several large investors have recently modified their holdings of the business. Plato Investment Management Ltd bought a new position in Reddit in the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new position in Reddit during the 4th quarter worth $28,000. Ridgewood Investments LLC increased its position in 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 buying an additional 100 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in Reddit in the fourth quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new stake in Reddit in the fourth quarter worth about $33,000.

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.