TD Waterhouse Canada Inc. Has $817,000 Stock Holdings in Reddit Inc. $RDDT

TD Waterhouse Canada Inc. boosted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 77.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,361 shares of the company’s stock after acquiring an additional 2,334 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Reddit were worth $817,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wealthspire Advisors LLC grew its stake in shares of Reddit by 10.8% in the second quarter. Wealthspire Advisors LLC now owns 2,210 shares of the company’s stock worth $333,000 after purchasing an additional 216 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Reddit by 6.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,837,215 shares of the company’s stock worth $1,631,759,000 after buying an additional 638,663 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Reddit in the 2nd quarter valued at about $391,000. Nomura Asset Management Co. Ltd. raised its position in shares of Reddit by 1.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 20,170 shares of the company’s stock worth $3,037,000 after acquiring an additional 320 shares during the last quarter. Finally, Westpac Banking Corp bought a new stake in Reddit in the second quarter valued at approximately $1,291,000.

Analyst Ratings Changes

RDDT has been the topic of a number of research analyst reports. Roth Capital set a $210.00 price target on shares of Reddit in a research report on Friday, October 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $250.00 price target on shares of Reddit in a research note on Friday, October 31st. Jefferies Financial Group raised their price objective on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Bank of America boosted their price target on shares of Reddit from $180.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, B. Riley reiterated a “buy” rating and set a $245.00 price target (up previously from $235.00) on shares of Reddit in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.33.

Reddit Trading Up 0.8%

Reddit stock opened at $183.39 on Friday. The business’s 50 day simple moving average is $211.95 and its 200 day simple moving average is $179.53. Reddit Inc. has a 12 month low of $79.75 and a 12 month high of $282.95. The company has a market cap of $34.75 billion, a price-to-earnings ratio of 105.40, a PEG ratio of 2.02 and a beta of 2.14.

Reddit (NYSE:RDDT) last issued its earnings results on Thursday, October 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The business had revenue of $584.91 million for the quarter, compared to analysts’ expectations of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The business’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Reddit

In other Reddit news, CTO Christopher Brian Slowe sold 14,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $236.51, for a total transaction of $3,311,140.00. Following the completion of the sale, the chief technology officer directly owned 210,534 shares in the company, valued at $49,793,396.34. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $229.10, for a total value of $4,123,800.00. Following the sale, the chief executive officer owned 494,104 shares of the company’s stock, valued at $113,199,226.40. This represents a 3.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 317,140 shares of company stock worth $69,998,775 over the last quarter. 34.25% of the stock is currently owned by corporate insiders.

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.