TD Asset Management Inc Has $31.49 Million Stock Position in Reddit Inc. $RDDT

Key Points

• TD Asset Management Inc reduced its stake in Reddit Inc. by 26.5%, now owning 209,155 shares valued at approximately $31.49 million.
• Several institutional investors increased their positions in Reddit, with JPMorgan Chase boosting its stake by 98.2%, now holding shares worth $200.1 million.
• Reddit reported $0.45 EPS for the last quarter, surpassing estimates, and has shown 77.9% year-over-year revenue growth with projected earnings of 1.12 EPS for the current fiscal year.

TD Asset Management Inc trimmed its position in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 26.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 209,155 shares of the company's stock after selling 75,437 shares during the period. TD Asset Management Inc owned 0.11% of Reddit worth $31,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RDDT. Petrus Trust Company LTA acquired a new position in Reddit during the first quarter worth approximately $473,000. JPMorgan Chase & Co. increased its holdings in shares of Reddit by 98.2% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,495 shares of the company's stock worth $200,096,000 after acquiring an additional 944,847 shares during the last quarter. Greycroft LP increased its holdings in shares of Reddit by 109.1% in the first quarter. Greycroft LP now owns 11,500 shares of the company's stock valued at $1,206,000 after purchasing an additional 6,000 shares during the last quarter. Think Investments LP increased its holdings in shares of Reddit by 10.3% in the first quarter. Think Investments LP now owns 268,000 shares of the company's stock valued at $28,113,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Sender Co & Partners Inc. acquired a new position in shares of Reddit in the first quarter valued at $1,367,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RDDT. The Goldman Sachs Group reiterated a "neutral" rating and issued a $236.00 price target on shares of Reddit in a research note on Tuesday. Guggenheim upped their target price on Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Reddit in a research report on Wednesday, October 8th. Robert W. Baird upped their target price on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Finally, Roth Capital upped their price objective on Reddit from $130.00 to $145.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $209.50.

Insider Activity

In other Reddit news, 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 transaction of $4,123,800.00. Following the sale, the chief executive officer directly owned 494,104 shares in the company, valued at $113,199,226.40. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew Vollero sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer owned 284,168 shares in the company, valued at $61,974,199.12. This represents a 9.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 364,500 shares of company stock valued at $82,549,691. Corporate insiders own 34.25% of the company's stock.

Reddit Price Performance

Reddit stock opened at $198.96 on Friday. The stock's fifty day moving average price is $228.80 and its two-hundred day moving average price is $161.72. Reddit Inc. has a one year low of $75.94 and a one year high of $282.95. The firm has a market cap of $37.24 billion, a PE ratio of 180.87, a price-to-earnings-growth ratio of 3.07 and a beta of 2.23.

Reddit (NYSE:RDDT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.25. The company had revenue of $499.63 million for the quarter, compared to analyst estimates of $424.07 million. Reddit had a return on equity of 9.93% and a net margin of 12.97%.Reddit's quarterly revenue was up 77.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Reddit has set its Q3 2025 guidance at EPS. Sell-side analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal year.

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.

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