Bank of Montreal Can Raises Holdings in Reddit Inc. $RDDT

Bank of Montreal Can lifted its holdings in shares of Reddit Inc. (NYSE:RDDT) by 3,855.3% during the second quarter, Holdings Channel.com reports. The fund owned 346,170 shares of the company’s stock after acquiring an additional 337,418 shares during the period. Bank of Montreal Can’s holdings in Reddit were worth $52,123,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RDDT. TD Private Client Wealth LLC grew its stake in shares of Reddit by 100.3% during the first quarter. TD Private Client Wealth LLC now owns 1,594 shares of the company’s stock worth $167,000 after acquiring an additional 798 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Reddit by 5.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 149,300 shares of the company’s stock valued at $15,662,000 after purchasing an additional 7,500 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of Reddit in the first quarter valued at about $1,000,000. Steadview Capital Management LLC acquired a new position in shares of Reddit in the first quarter valued at about $4,380,000. Finally, Alps Advisors Inc. acquired a new position in shares of Reddit in the first quarter valued at about $1,636,000.

Reddit Stock Up 4.5%

Reddit stock opened at $196.24 on Thursday. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of 112.78, a price-to-earnings-growth ratio of 2.07 and a beta of 2.14. Reddit Inc. has a 52 week low of $79.75 and a 52 week high of $282.95. The business’s 50-day moving average price is $222.64 and its 200 day moving average price is $172.88.

Reddit (NYSE:RDDT) last posted its earnings results on Thursday, October 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.50 by $0.30. The firm had revenue of $585.00 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%.Reddit’s revenue for the quarter was up 67.9% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. Reddit has set its Q4 2025 guidance at EPS. Equities analysts expect that Reddit Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RDDT shares. Jefferies Financial Group increased their price objective on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. JMP Securities reissued a “market outperform” rating and issued a $300.00 price objective on shares of Reddit in a report on Friday, October 3rd. Robert W. Baird increased their price objective on Reddit from $177.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Wolfe Research raised Reddit to an “outperform” rating in a report on Sunday, August 3rd. Finally, Zacks Research raised Reddit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Reddit has a consensus rating of “Moderate Buy” and an average price target of $226.33.

Insider Activity

In other news, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $200.53, for a total transaction of $3,609,540.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares of the company’s stock, valued at $99,082,675.12. This represents a 3.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer L. Wong sold 30,659 shares of the company’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $201.82, for a total value of $6,187,599.38. Following the transaction, the chief operating officer directly owned 1,295,968 shares of the company’s stock, valued at approximately $261,552,261.76. The trade was a 2.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 402,126 shares of company stock worth $90,938,776 over the last three months. 34.25% of the stock is currently owned by corporate insiders.

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.