Level Four Advisory Services LLC Invests $231,000 in Reddit, Inc. (NYSE:RDDT)

Level Four Advisory Services LLC acquired a new stake in Reddit, Inc. (NYSE:RDDT) during the 4th quarter, Holdings Channel reports. The fund acquired 1,416 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RDDT. Ridgewood Investments LLC lifted its holdings in shares of Reddit by 100.0% in the fourth quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Reddit by 2.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,908 shares of the company’s stock valued at $966,000 after purchasing an additional 120 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Reddit by 148.5% in the fourth quarter. Farther Finance Advisors LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 147 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Reddit by 10.8% during the fourth quarter. UMB Bank n.a. now owns 1,533 shares of the company’s stock worth $251,000 after buying an additional 150 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Reddit by 3.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 5,325 shares of the company’s stock worth $870,000 after buying an additional 155 shares in the last quarter.

Insider Transactions at Reddit

In related news, insider Benjamin Seong Lee sold 92,299 shares of Reddit stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.35, for a total value of $14,523,247.65. Following the completion of the sale, the insider now owns 115,001 shares of the company’s stock, valued at approximately $18,095,407.35. This trade represents a 44.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Vollero sold 48,122 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $162.80, for a total transaction of $7,834,261.60. Following the sale, the chief financial officer now directly owns 599,295 shares in the company, valued at approximately $97,565,226. This trade represents a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 589,794 shares of company stock worth $87,940,784 in the last quarter.

Reddit Stock Up 5.0 %

Reddit stock opened at $110.17 on Wednesday. The stock has a market cap of $19.93 billion and a P/E ratio of -14.25. The company’s 50 day moving average price is $162.96 and its two-hundred day moving average price is $138.49. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41.

Reddit (NYSE:RDDT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12. Reddit had a negative net margin of 37.25% and a negative return on equity of 24.71%. On average, equities analysts anticipate that Reddit, Inc. will post 1.12 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Loop Capital reissued a “buy” rating and set a $210.00 price objective on shares of Reddit in a report on Tuesday, March 11th. Piper Sandler upped their price objective on Reddit from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Wells Fargo & Company cut their target price on shares of Reddit from $215.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday. Roth Mkm cut shares of Reddit from a “buy” rating to a “neutral” rating and upped their price target for the company from $116.00 to $195.00 in a research report on Wednesday, January 22nd. Finally, JMP Securities set a $155.00 price target on shares of Reddit in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $163.00.

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.