Campbell Capital Management Inc. Has $1.02 Million Position in Reddit, Inc. (NYSE:RDDT)

Campbell Capital Management Inc. lowered its stake in shares of Reddit, Inc. (NYSE:RDDT) by 86.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,244 shares of the company’s stock after selling 40,597 shares during the period. Campbell Capital Management Inc.’s holdings in Reddit were worth $1,021,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in shares of Reddit during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Reddit during the 4th quarter valued at $28,000. Ridgewood Investments LLC boosted its stake in shares of 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 during the period. Farmers & Merchants Investments Inc. bought a new position in shares of Reddit during the 4th quarter valued at $33,000. Finally, Bogart Wealth LLC bought a new position in shares of Reddit during the 4th quarter valued at $33,000.

Reddit Stock Performance

NYSE:RDDT opened at $127.71 on Friday. The firm’s 50-day moving average is $177.06 and its 200-day moving average is $132.71. Reddit, Inc. has a 52-week low of $37.35 and a 52-week high of $230.41. The company has a market cap of $23.10 billion and a price-to-earnings ratio of -16.52.

Reddit (NYSE:RDDT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Reddit, Inc. will post 1.12 EPS for the current year.

Insider Transactions at Reddit

In other news, insider Benjamin Seong Lee sold 92,299 shares of Reddit stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total transaction of $14,523,247.65. Following the sale, the insider now directly owns 115,001 shares in the company, valued at approximately $18,095,407.35. The trade was a 44.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 48,122 shares of Reddit 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 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. In the last 90 days, insiders have sold 393,386 shares of company stock worth $66,673,388.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RDDT. Robert W. Baird raised their price target on shares of Reddit from $160.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of Reddit from $206.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Citigroup restated a “neutral” rating on shares of Reddit in a report on Thursday, February 13th. Roth Capital downgraded shares of Reddit from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, B. Riley raised their price target on shares of Reddit from $112.00 to $187.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.45.

Reddit Company 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.