Tobam Buys New Stake in Reddit Inc. $RDDT

Tobam purchased a new stake in Reddit Inc. (NYSE:RDDT) in the 2nd quarter, HoldingsChannel reports. The fund purchased 6,942 shares of the company’s stock, valued at approximately $1,045,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of 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 in the last quarter. Stone House Investment Management LLC acquired a new stake in Reddit in the first quarter valued at approximately $31,000. Financial Perspectives Inc acquired a new stake in Reddit in the second quarter valued at approximately $34,000. Geneos Wealth Management Inc. raised its stake in shares of Reddit by 344.6% during 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 period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Reddit during the second quarter worth $60,000.

Insider Buying and Selling

In other news, CFO Andrew Vollero sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $218.09, for a total value of $6,542,700.00. Following the completion of the sale, the chief financial officer directly owned 284,168 shares in the company, valued at approximately $61,974,199.12. The trade was a 9.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $218.94, for a total value of $6,130,320.00. Following the completion of the transaction, the chief technology officer directly owned 222,534 shares in the company, valued at approximately $48,721,593.96. This represents a 11.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 420,126 shares of company stock valued at $94,369,614 over the last 90 days. 34.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RDDT has been the subject of a number of analyst reports. Truist Financial set a $270.00 price target on Reddit in a report on Friday, October 31st. JMP Securities restated a “market outperform” rating and set a $300.00 price objective on shares of Reddit in a research note on Friday, October 3rd. Guggenheim lifted their target price on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Roth Capital set a $210.00 price objective on shares of Reddit in a research report on Friday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Reddit in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Reddit has an average rating of “Moderate Buy” and an average target price of $226.33.

Reddit Stock Performance

Reddit stock opened at $208.45 on Wednesday. The firm’s 50 day moving average price is $220.51 and its two-hundred day moving average price is $175.91. The firm has a market cap of $39.50 billion, a price-to-earnings ratio of 119.80, a price-to-earnings-growth ratio of 2.25 and a beta of 2.15. Reddit Inc. has a 1 year low of $79.75 and a 1 year high of $282.95.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.30. The firm had revenue of $585.00 million for the quarter, compared to the consensus estimate of $546.65 million. Reddit had a net margin of 18.33% and a return on equity of 14.94%. The firm’s revenue was up 67.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Reddit Inc. will post 1.12 EPS 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.