GC Wealth Management RIA LLC Has $4.32 Million Position in Reddit Inc. $RDDT

GC Wealth Management RIA LLC cut its stake in shares of Reddit Inc. (NYSE:RDDT) by 16.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,102 shares of the company’s stock after selling 6,500 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Reddit were worth $4,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RDDT. Truist Financial Corp raised its stake in Reddit by 67.7% in the fourth quarter. Truist Financial Corp now owns 15,659 shares of the company’s stock valued at $3,600,000 after buying an additional 6,321 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Reddit by 63.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 32,003 shares of the company’s stock worth $7,357,000 after acquiring an additional 12,398 shares in the last quarter. Calamos Advisors LLC purchased a new position in shares of Reddit in the 4th quarter valued at about $2,299,000. Handelsbanken Fonder AB raised its position in shares of Reddit by 22.9% during the 4th quarter. Handelsbanken Fonder AB now owns 37,000 shares of the company’s stock worth $8,505,000 after acquiring an additional 6,900 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. lifted its stake in Reddit by 326,400.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 32,650 shares of the company’s stock worth $7,505,000 after purchasing an additional 32,640 shares during the last quarter.

Key Reddit News

Here are the key news stories impacting Reddit this week:

• Positive Sentiment: DA Davidson reaffirmed its buy rating on Reddit and set a $200 price target, implying upside from current levels. Benzinga
• Neutral Sentiment: Wall Street expects Reddit to report earnings growth in next week’s results, but Zacks noted the stock does not currently have the ideal setup for a likely earnings beat. Zacks
• Neutral Sentiment: Some coverage framed the recent pullback as either a buying opportunity or a valuation risk, reflecting debate over whether the stock’s premium is justified after its strong run. Yahoo Finance
• Negative Sentiment: Reports that Reddit may rethink its $60 million Google AI deal have raised concerns that a renewal delay or dispute could weaken a key licensing relationship. Yahoo Finance
• Negative Sentiment: Investors are also reacting to fears that Google’s AI summaries could reduce traffic to Reddit, which would pressure the platform’s advertising economics and near-term growth narrative. CNBC

Reddit Stock Down 0.9%

Shares of NYSE:RDDT opened at $168.77 on Friday. The company has a market cap of $32.49 billion, a price-to-earnings ratio of 48.22 and a beta of 1.93. Reddit Inc. has a fifty-two week low of $119.27 and a fifty-two week high of $282.95. The firm’s 50-day simple moving average is $174.46 and its 200-day simple moving average is $167.68.

Reddit (NYSE:RDDT) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.39. Reddit had a net margin of 28.60% and a return on equity of 25.48%. The firm had revenue of $663.41 million during the quarter, compared to the consensus estimate of $607.74 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s revenue was up 69.1% compared to the same quarter last year. On average, research analysts forecast that Reddit Inc. will post 4.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RDDT. Citigroup reaffirmed a “market outperform” rating on shares of Reddit in a report on Tuesday, May 26th. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Reddit in a research report on Wednesday, June 24th. Raymond James Financial set a $180.00 target price on shares of Reddit and gave the company a “market perform” rating in a research report on Friday, May 1st. Piper Sandler reissued an “overweight” rating and issued a $215.00 price target on shares of Reddit in a research report on Thursday, July 9th. Finally, Wells Fargo & Company upped their price objective on shares of Reddit from $176.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Nineteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Reddit currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.

Insider Transactions at Reddit

In related news, COO Jennifer L. Wong sold 39,167 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the transaction, the chief operating officer owned 1,088,451 shares of the company’s stock, valued at $172,541,252.52. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle Marie Reynolds sold 808 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total value of $161,600.00. Following the completion of the transaction, the chief accounting officer owned 15,060 shares of the company’s stock, valued at $3,012,000. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 169,141 shares of company stock valued at $28,680,845. Corporate insiders own 28.48% of the company’s stock.

Reddit Company Profile

Reddit is an online social news aggregation, discussion and content-sharing platform organized around user-created communities called “subreddits,” each focused on a particular topic or interest. Registered users submit links, text posts, images and video, and community members vote and comment to surface popular content. The site is accessed via its web platform and mobile apps for iOS and Android, and it supports live events such as Ask Me Anything (AMA) sessions and community-driven discussions.

Founded in 2005 by Steve Huffman and Alexis Ohanian, Reddit is headquartered in San Francisco and serves a global audience with particularly large user bases in the United States and other English-speaking markets.