Royal Bank of Canada Acquires 47,389 Shares of Reddit Inc. $RDDT

Royal Bank of Canada boosted its holdings in Reddit Inc. (NYSE:RDDT) by 60.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,663 shares of the company’s stock after acquiring an additional 47,389 shares during the period. Royal Bank of Canada owned 0.07% of Reddit worth $13,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CWM LLC raised 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 during the period. Fourth Dimension Wealth LLC bought a new position in Reddit during the 4th quarter worth $49,000. Chelsea Counsel Co. bought a new position in Reddit during the 4th quarter worth $49,000. Stone House Investment Management LLC bought a new position in Reddit during the 1st quarter worth $31,000. Finally, CoreCap Advisors LLC increased its position in Reddit by 3,500.0% during the 4th quarter. CoreCap Advisors LLC now owns 360 shares of the company’s stock worth $59,000 after buying an additional 350 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Reddit from $145.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Sanford C. Bernstein increased their price objective on Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price objective on Reddit from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Guggenheim increased their price objective on Reddit from $165.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Loop Capital lowered their price objective on Reddit from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reddit presently has an average rating of “Moderate Buy” and a consensus price target of $180.58.

Reddit Stock Up 7.8%

Reddit stock opened at $259.04 on Thursday. Reddit Inc. has a 12-month low of $55.84 and a 12-month high of $261.13. The business’s 50-day moving average price is $192.30 and its two-hundred day moving average price is $144.50. The stock has a market cap of $48.48 billion, a PE ratio of 235.49, a P/E/G ratio of 3.81 and a beta of 2.40.

Reddit (NYSE:RDDT) last released its earnings results on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm had revenue of $499.63 million for the quarter, compared to analysts’ expectations of $424.07 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The business’s revenue for the quarter was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. As a group, analysts expect that Reddit Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other Reddit news, CEO Steve Ladd Huffman sold 124,409 shares of Reddit stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $124.45, for a total value of $15,482,700.05. Following the transaction, the chief executive officer owned 546,133 shares in the company, valued at $67,966,251.85. The trade was a 18.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Christopher Brian Slowe sold 28,000 shares of Reddit stock in a transaction dated Thursday, August 21st. The shares were 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 owned 222,534 shares in the company, valued at approximately $48,721,593.96. This represents a 11.18% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 530,777 shares of company stock worth $92,101,216. Insiders own 34.25% of the company’s stock.

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.