Heck Capital Advisors LLC Makes New Investment in Reddit, Inc. (NYSE:RDDT)

Heck Capital Advisors LLC acquired a new stake in Reddit, Inc. (NYSE:RDDT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 765 shares of the company’s stock, valued at approximately $125,000.

Several other hedge funds and other institutional investors have also modified their holdings of RDDT. ARK Investment Management LLC lifted its stake in shares of Reddit by 120.5% in the third quarter. ARK Investment Management LLC now owns 352,721 shares of the company’s stock valued at $23,251,000 after buying an additional 192,785 shares during the period. Wellington Management Group LLP lifted its position in shares of Reddit by 3,640.5% in the 3rd quarter. Wellington Management Group LLP now owns 255,325 shares of the company’s stock worth $16,831,000 after acquiring an additional 248,499 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Reddit by 903.8% during the 3rd quarter. Victory Capital Management Inc. now owns 504,116 shares of the company’s stock worth $33,231,000 after purchasing an additional 453,894 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Reddit by 176.0% during the third quarter. Geode Capital Management LLC now owns 824,200 shares of the company’s stock valued at $54,355,000 after purchasing an additional 525,619 shares during the period. Finally, Mission Creek Capital Partners Inc. acquired a new position in shares of Reddit in the third quarter valued at $7,490,000.

Reddit Trading Up 0.5 %

Shares of RDDT stock opened at $199.91 on Monday. The firm’s 50 day moving average is $168.76 and its 200-day moving average is $108.78. Reddit, Inc. has a 1 year low of $37.35 and a 1 year high of $208.62.

Insider Transactions at Reddit

In other Reddit news, COO Jennifer L. Wong sold 33,334 shares of Reddit stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $173.93, for a total transaction 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 approximately $261,642,377.21. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher Brian Slowe sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $184.15, for a total value of $920,750.00. Following the completion of the transaction, the chief technology officer now directly owns 35,252 shares in the company, valued at approximately $6,491,655.80. This trade represents a 12.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 245,357 shares of company stock worth $38,293,668 over the last 90 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RDDT shares. Robert W. Baird lifted their price target on shares of Reddit from $100.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein increased their price target on shares of Reddit from $65.00 to $85.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective on Reddit from $150.00 to $197.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company started coverage on Reddit in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $206.00 price objective on the stock. 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $159.70.

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.