GC Wealth Management RIA LLC Invests $7.97 Million in Reddit Inc. $RDDT

GC Wealth Management RIA LLC purchased a new stake in Reddit Inc. (NYSE:RDDT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 52,957 shares of the company’s stock, valued at approximately $7,974,000. Reddit accounts for about 0.7% of GC Wealth Management RIA LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. GraniteShares Advisors LLC acquired a new stake in shares of Reddit in the 2nd quarter valued at $553,000. WD Rutherford LLC grew its stake in shares of Reddit by 14.4% during the second quarter. WD Rutherford LLC now owns 2,470 shares of the company’s stock valued at $372,000 after purchasing an additional 310 shares during the last quarter. Signaturefd LLC raised its position in Reddit by 12.5% in the 2nd quarter. Signaturefd LLC now owns 3,215 shares of the company’s stock worth $484,000 after purchasing an additional 356 shares during the last quarter. Beaumont Financial Advisors LLC boosted its position in Reddit by 25.3% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 6,672 shares of the company’s stock valued at $1,005,000 after buying an additional 1,346 shares during the last quarter. Finally, Wealth Effects LLC bought a new stake in shares of Reddit during the second quarter worth $334,000.

Reddit Price Performance

Shares of Reddit stock opened at $240.37 on Monday. The business has a fifty day simple moving average of $217.83 and a two-hundred day simple moving average of $153.38. Reddit Inc. has a 1 year low of $64.51 and a 1 year high of $282.95. The company has a market capitalization of $44.99 billion, a price-to-earnings ratio of 218.52, a P/E/G ratio of 3.78 and a beta of 2.38.

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

Analysts Set New Price Targets

RDDT has been the subject of several analyst reports. Sanford C. Bernstein lifted their price target on shares of Reddit from $130.00 to $150.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Raymond James Financial restated a “strong-buy” rating and set a $225.00 price objective (up from $175.00) on shares of Reddit in a research note on Friday, August 1st. Roth Capital upped their target price on Reddit from $130.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Citigroup restated an “outperform” rating on shares of Reddit in a research note on Thursday, September 18th. Finally, Loop Capital cut their price objective on Reddit from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.58.

Insider Activity

In other news, CAO Michelle Marie Reynolds sold 3,214 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $217.69, for a total transaction of $699,655.66. Following the completion of the sale, the chief accounting officer owned 28,088 shares in the company, valued at $6,114,476.72. The trade was a 10.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Steve Ladd Huffman sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $261.22, for a total value of $4,701,960.00. Following the completion of the transaction, the chief executive officer directly owned 494,104 shares in the company, valued at $129,069,846.88. The trade was a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 379,834 shares of company stock valued at $82,388,799. Company insiders own 34.25% of the company’s stock.

About Reddit

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.