Harbour Investments Inc. Purchases 583 Shares of Reddit Inc. $RDDT

Harbour Investments Inc. grew its holdings in shares of Reddit Inc. (NYSE:RDDT) by 15.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,339 shares of the company’s stock after purchasing an additional 583 shares during the quarter. Harbour Investments Inc.’s holdings in Reddit were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CWM LLC grew its position in Reddit by 100.0% during 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 period. Stone House Investment Management LLC purchased a new position in shares of Reddit during the 1st quarter worth $31,000. Geneos Wealth Management Inc. boosted its stake in shares of Reddit by 344.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 369 shares of the company’s stock worth $39,000 after acquiring an additional 286 shares during the last quarter. Canton Hathaway LLC bought a new stake in shares of Reddit during the 1st quarter valued at $43,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Reddit in the 1st quarter worth $46,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Jefferies Financial Group lifted their target price on Reddit from $230.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Wolfe Research raised Reddit to an “outperform” rating in a research report on Sunday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $290.00 price objective on shares of Reddit in a research note on Friday, October 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $236.00 target price on shares of Reddit in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein lifted their price target on shares of Reddit from $130.00 to $150.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Activity at Reddit

In related news, COO Jennifer L. Wong sold 40,967 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $220.38, for a total value of $9,028,307.46. Following the sale, the chief operating officer directly owned 120,033 shares in the company, valued at approximately $26,452,872.54. The trade was a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 28,000 shares of the stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 222,534 shares of the company’s stock, valued at approximately $48,721,593.96. The trade was a 11.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 382,500 shares of company stock worth $86,159,231 over the last 90 days. Company insiders own 34.25% of the company’s stock.

Reddit Price Performance

Shares of RDDT opened at $195.00 on Monday. The firm has a market cap of $36.50 billion, a P/E ratio of 177.27, a price-to-earnings-growth ratio of 2.98 and a beta of 2.23. Reddit Inc. has a 1 year low of $76.42 and a 1 year high of $282.95. The company has a 50 day simple moving average of $228.39 and a two-hundred day simple moving average of $163.13.

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