Moody National Bank Trust Division Has $1.53 Million Holdings in Reddit, Inc. (NYSE:RDDT)

Moody National Bank Trust Division decreased its position in Reddit, Inc. (NYSE:RDDT) by 13.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,359 shares of the company’s stock after selling 1,500 shares during the period. Moody National Bank Trust Division’s holdings in Reddit were worth $1,530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RDDT. Ridgewood Investments LLC lifted its position in Reddit by 100.0% in the 4th quarter. Ridgewood Investments LLC now owns 200 shares of the company’s stock worth $33,000 after buying an additional 100 shares in the last quarter. Whittier Trust Co. bought a new position in Reddit during the third quarter valued at approximately $42,000. Daiwa Securities Group Inc. bought a new stake in Reddit in the third quarter worth approximately $85,000. SOA Wealth Advisors LLC. increased its stake in shares of Reddit by 56.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,919 shares of the company’s stock worth $126,000 after purchasing an additional 691 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new position in shares of Reddit during the 4th quarter valued at $337,000.

Reddit Stock Performance

RDDT opened at $164.82 on Tuesday. Reddit, Inc. has a 1-year low of $37.35 and a 1-year high of $187.69. The firm has a 50-day moving average price of $154.55 and a two-hundred day moving average price of $97.94.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.23. The firm had revenue of $348.40 million for the quarter, compared to the consensus estimate of $313.61 million. Reddit had a negative return on equity of 40.54% and a negative net margin of 47.83%. The company’s quarterly revenue was up 67.9% on a year-over-year basis. As a group, equities research analysts predict that Reddit, Inc. will post -3.46 earnings per share for the current year.

Analysts Set New Price Targets

RDDT has been the topic of several analyst reports. Bank of America increased their target price on shares of Reddit from $99.00 to $180.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Citigroup raised their price objective on Reddit from $120.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, December 20th. B. Riley reaffirmed a “buy” rating and set a $112.00 target price (up previously from $87.00) on shares of Reddit in a research report on Wednesday, October 30th. Guggenheim assumed coverage on shares of Reddit in a research report on Friday, December 20th. They issued a “buy” rating and a $210.00 price target on the stock. Finally, Wells Fargo & Company started coverage on shares of Reddit in a report on Wednesday, December 11th. They set an “overweight” rating and a $206.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Reddit presently has an average rating of “Moderate Buy” and a consensus price target of $136.75.

Insider Activity at Reddit

In other Reddit news, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $165.33, for a total transaction of $2,314,620.00. Following the completion of the sale, the chief executive officer now owns 614,394 shares in the company, valued at approximately $101,577,760.02. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer L. Wong sold 33,334 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $76.27, for a total value of $2,542,384.18. Following the completion of the transaction, the chief operating officer now directly owns 1,542,457 shares in the company, valued at approximately $117,643,195.39. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 250,357 shares of company stock worth $34,241,680 over the last 90 days.

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.