TD Private Client Wealth LLC Decreases Position in Reddit Inc. $RDDT

Key Points

• TD Private Client Wealth LLC has reduced its holdings in Reddit Inc. by 68.3% in the second quarter, now owning only 505 shares valued at $76,000.
• Reddit reported an earnings per share of $0.45, significantly exceeding analyst expectations, with revenue increasing by 77.9% year-over-year.
• Several analysts have recently adjusted their price targets for Reddit, with Bank of America raising theirs to $150 and Needham & Company lifting it to $300.

TD Private Client Wealth LLC decreased its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 68.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505 shares of the company's stock after selling 1,089 shares during the quarter. TD Private Client Wealth LLC's holdings in Reddit were worth $76,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its stake in Reddit by 100.0% in the first quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after buying an additional 128 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Reddit in the first quarter valued at approximately $31,000. Geneos Wealth Management Inc. lifted its stake in Reddit by 344.6% in the first quarter. Geneos Wealth Management Inc. now owns 369 shares of the company's stock valued at $39,000 after buying an additional 286 shares during the last quarter. Canton Hathaway LLC purchased a new stake in Reddit in the first quarter valued at approximately $43,000. Finally, Olde Wealth Management LLC purchased a new stake in Reddit in the first quarter valued at approximately $46,000.

Reddit Stock Performance

Reddit stock opened at $241.98 on Tuesday. The firm has a market capitalization of $45.29 billion, a price-to-earnings ratio of 219.98, a price-to-earnings-growth ratio of 3.78 and a beta of 2.38. Reddit Inc. has a fifty-two week low of $64.51 and a fifty-two week high of $282.95. The stock's fifty day moving average is $219.74 and its two-hundred day moving average is $154.18.

Reddit (NYSE:RDDT - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share for the quarter, beating 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 revenue was up 77.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Reddit has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Reddit Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RDDT shares. Bank of America boosted their price objective on Reddit from $130.00 to $150.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Needham & Company LLC boosted their price objective on Reddit from $215.00 to $300.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $210.00 price objective on shares of Reddit in a research note on Friday, August 22nd. Finally, Cannonball Research reiterated a "buy" rating on shares of Reddit in a research note on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $201.58.

Insider Buying and Selling

In other Reddit news, COO Jennifer L. Wong sold 30,741 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $257.28, for a total value of $7,909,044.48. Following the sale, the chief operating officer owned 1,295,968 shares of the company's stock, valued at approximately $333,426,647.04. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher Brian Slowe sold 14,000 shares of the company's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $257.28, for a total value of $3,601,920.00. Following the completion of the sale, the chief technology officer directly owned 208,534 shares in the company, valued at $53,651,627.52. This trade represents a 6.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 379,834 shares of company stock valued at $82,388,799 in the last three months. 34.25% of the stock is owned by insiders.

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.

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