TD Waterhouse Canada Inc. Purchases 2,334 Shares of Reddit Inc. $RDDT
TD Waterhouse Canada Inc. increased its holdings in shares of Reddit Inc. (NYSE:RDDT - Free Report) by 77.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,361 shares of the company's stock after buying an additional 2,334 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Reddit were worth $817,000 as of its most recent SEC filing. Other institutional investors and hedge funds have also modified their holdings of the company. Financial Perspectives Inc bought a new stake in shares of Reddit during the second quarter worth $34,000. CWM LLC lifted its stake in Reddit by 100.0% in the 1st quarter. CWM LLC now owns 256 shares of the company's stock valued at $27,000 after acquiring an additional 128 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of Reddit during the 1st quarter worth approximately $31,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 purchasing an additional 286 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in Reddit during the second quarter worth $60,000. Insider Activity at RedditIn other news, CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $236.51, for a total value of $3,311,140.00. Following the sale, the chief technology officer directly owned 210,534 shares in the company, valued at approximately $49,793,396.34. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 30,000 shares of Reddit stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total transaction of $6,542,700.00. Following the sale, the chief financial officer directly owned 284,168 shares in the company, valued at $61,974,199.12. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 317,140 shares of company stock worth $69,998,775 over the last three months. 34.25% of the stock is owned by insiders. Reddit Stock Up 0.8%Shares of NYSE:RDDT opened at $183.39 on Friday. The firm has a market cap of $34.75 billion, a PE ratio of 105.40, a PEG ratio of 2.02 and a beta of 2.14. The company's 50 day moving average price is $211.95 and its two-hundred day moving average price is $179.53. Reddit Inc. has a 12-month low of $79.75 and a 12-month high of $282.95. Reddit (NYSE:RDDT - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.30. The firm had revenue of $584.91 million for the quarter, compared to analyst estimates of $546.65 million. Reddit had a return on equity of 14.94% and a net margin of 18.33%.The company's revenue was up 67.9% on a year-over-year basis. During the same quarter last year, the company earned $0.16 EPS. Reddit has set its Q4 2025 guidance at EPS. On average, research analysts expect that Reddit Inc. will post 1.12 EPS for the current year. Wall Street Analyst Weigh InSeveral equities analysts have recently weighed in on RDDT shares. Oppenheimer raised their price objective on Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a report on Tuesday, September 16th. Wall Street Zen upgraded shares of Reddit from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Cannonball Research reaffirmed a "buy" rating on shares of Reddit in a report on Tuesday, September 23rd. Roth Capital set a $210.00 price target on Reddit in a research report on Friday, October 31st. Finally, Robert W. Baird raised their price objective on Reddit from $177.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Reddit currently has an average rating of "Moderate Buy" and a consensus price target of $226.33.Get Our Latest Report on RDDTReddit Profile (Free Report)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.Further ReadingWant to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit Inc. (NYSE:RDDT - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Before you consider Reddit, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.Get This Free Report
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