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

Campbell Capital Management Inc. cut its position in Reddit, Inc. (NYSE:RDDT) by 86.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 and hedge funds have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in Reddit in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC acquired a new position in Reddit in the fourth quarter valued at about $28,000. Ridgewood Investments LLC boosted its position in Reddit by 100.0% in the fourth 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. acquired a new position in Reddit in the fourth quarter valued at about $33,000. Finally, Bogart Wealth LLC acquired a new position in Reddit in the fourth quarter valued at about $33,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RDDT shares. Roth Capital lowered shares of Reddit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 22nd. Loop Capital reiterated a “buy” rating on shares of Reddit in a research report on Tuesday. Morgan Stanley upped their target price on shares of Reddit from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their target price on shares of Reddit from $120.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Wells Fargo & Company upped their target price on shares of Reddit from $206.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Reddit currently has an average rating of “Moderate Buy” and a consensus price target of $173.45.

Insider Buying and Selling at Reddit

In other news, Director David C. Habiger bought 774 shares of the stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $130.36 per share, with a total value of $100,898.64. Following the completion of the purchase, the director now owns 30,808 shares of the company’s stock, valued at approximately $4,016,130.88. This trade represents a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Steve Ladd Huffman sold 14,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $176.20, for a total transaction of $2,466,800.00. Following the completion of the transaction, the chief executive officer now owns 620,971 shares of the company’s stock, valued at $109,415,090.20. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 393,386 shares of company stock valued at $66,673,388.

Reddit Stock Performance

Shares of NYSE:RDDT opened at $127.71 on Friday. Reddit, Inc. has a 52 week low of $37.35 and a 52 week high of $230.41. The company has a market capitalization of $23.10 billion and a PE ratio of -16.52. The company has a 50 day moving average price of $177.06 and a two-hundred day moving average price of $132.71.

Reddit (NYSE:RDDT) last issued its earnings results on Wednesday, February 12th. The company reported $0.36 EPS 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, sell-side analysts forecast that Reddit, Inc. will post 1.12 earnings per share for the current year.

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.