GC Wealth Management RIA LLC Sells 6,500 Shares of Reddit Inc. $RDDT

GC Wealth Management RIA LLC cut its position in Reddit Inc. (NYSE:RDDT) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RDDT. Institute for Wealth Management LLC. grew its position in shares of Reddit by 6.1% in the fourth quarter. Institute for Wealth Management LLC. now owns 1,071 shares of the company’s stock valued at $246,000 after purchasing an additional 62 shares during the last quarter. Florida Financial Advisors LLC lifted its position in shares of Reddit by 6.7% during the 4th quarter. Florida Financial Advisors LLC now owns 1,087 shares of the company’s stock worth $250,000 after purchasing an additional 68 shares during the last quarter. Diversified Trust Co lifted its position in shares of Reddit by 2.1% during the 1st quarter. Diversified Trust Co now owns 3,271 shares of the company’s stock worth $440,000 after purchasing an additional 68 shares during the last quarter. IFP Advisors Inc boosted its stake in Reddit by 9.9% during the 3rd quarter. IFP Advisors Inc now owns 796 shares of the company’s stock valued at $183,000 after purchasing an additional 72 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in Reddit by 5.1% during the 4th quarter. Yousif Capital Management LLC now owns 1,554 shares of the company’s stock valued at $350,000 after purchasing an additional 75 shares during the period.

Insider Activity

In other news, COO Jennifer L. Wong sold 39,167 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $158.52, for a total transaction of $6,208,752.84. Following the completion of the transaction, the chief operating officer directly owned 1,088,451 shares of the company’s stock, valued at approximately $172,541,252.52. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steve Ladd Huffman sold 18,000 shares of Reddit stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $178.26, for a total transaction of $3,208,680.00. Following the sale, the chief executive officer owned 373,814 shares in the company, valued at approximately $66,636,083.64. This trade represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 169,141 shares of company stock worth $28,680,845. 28.48% of the stock is currently owned by corporate insiders.

Reddit Trading Down 0.9%

RDDT opened at $168.77 on Friday. The stock has a market cap of $32.49 billion, a PE ratio of 48.22 and a beta of 1.93. Reddit Inc. has a 1 year low of $119.27 and a 1 year high of $282.95. The stock’s 50 day simple moving average is $174.46 and its 200-day simple moving average is $167.68.

Reddit (NYSE:RDDT) last issued its earnings results 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 return on equity of 25.48% and a net margin of 28.60%.The business had revenue of $663.41 million during the quarter, compared to analyst estimates of $607.74 million. During the same period in the prior year, the company posted $0.13 earnings per share. Reddit’s revenue was up 69.1% on a year-over-year basis. Equities analysts forecast that Reddit Inc. will post 4.85 earnings per share for the current fiscal year.

Reddit News Summary

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

Wall Street Analyst Weigh In

Several research analysts have commented on RDDT shares. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Reddit in a research report on Friday, May 1st. Wedbush restated an “outperform” rating on shares of Reddit in a research note on Thursday. Jefferies Financial Group set a $250.00 target price on shares of Reddit in a research report on Friday, July 10th. Citigroup reiterated a “market outperform” rating on shares of Reddit in a research note on Tuesday, May 26th. Finally, Loop Capital reissued a “buy” rating and issued a $260.00 price target on shares of Reddit in a report on Thursday, June 4th. Nineteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $232.48.

Reddit 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.