GC Wealth Management RIA LLC Makes New $7.97 Million Investment in Reddit Inc. $RDDT

Key Points

• GC Wealth Management RIA LLC invested approximately $7.97 million in Reddit Inc., acquiring 52,957 shares and making it their 25th largest holding.
• Recent analyst ratings have been positive, with Oppenheimer raising Reddit's target price from $215.00** to **$300.00** and a consensus "Moderate Buy" rating among analysts.
• Reddit's stock has shown significant growth with a revenue increase of 77.9% year-over-year, reporting $499.63 million in revenue during the last quarter.

GC Wealth Management RIA LLC purchased a new stake in Reddit Inc. (NYSE:RDDT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 52,957 shares of the company's stock, valued at approximately $7,974,000. Reddit makes up about 0.7% of GC Wealth Management RIA LLC's investment portfolio, making the stock its 25th largest holding.

Other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new position in shares of Reddit during the 4th quarter valued at approximately $316,000. Wealth Enhancement Advisory Services LLC bought a new position in Reddit in the fourth quarter worth about $2,208,000. California State Teachers Retirement System boosted its stake in Reddit by 126.6% in the fourth quarter. California State Teachers Retirement System now owns 48,380 shares of the company's stock valued at $7,907,000 after acquiring an additional 27,032 shares during the period. First Hawaiian Bank bought a new position in shares of Reddit during the first quarter valued at approximately $818,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Reddit in the 1st quarter worth approximately $93,000.

Analyst Ratings Changes

A number of research firms have issued reports on RDDT. Oppenheimer raised their target price on Reddit from $215.00 to $300.00 and gave the company an "outperform" rating in a research note on Tuesday, September 16th. Guggenheim lifted their price objective on shares of Reddit from $165.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group reissued a "neutral" rating and set a $212.00 target price on shares of Reddit in a research note on Friday, August 1st. Jefferies Financial Group raised their price target on shares of Reddit from $230.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen upgraded Reddit from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.58.

Insider Activity at Reddit

In other news, CTO Christopher Brian Slowe sold 14,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $257.28, for a total value of $3,601,920.00. Following the sale, the chief technology officer directly owned 208,534 shares of the company's stock, valued at approximately $53,651,627.52. This trade represents a 6.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Michelle Marie Reynolds sold 3,214 shares of Reddit stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $217.69, for a total value of $699,655.66. Following the completion of the transaction, the chief accounting officer directly owned 28,088 shares in the company, valued at approximately $6,114,476.72. This represents a 10.27% decrease in their ownership of the stock. 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. 34.25% of the stock is owned by corporate insiders.

Reddit Stock Up 3.3%

RDDT opened at $240.37 on Monday. The stock has a fifty day moving average of $217.83 and a 200-day moving average of $153.38. The firm has a market capitalization of $44.99 billion, a P/E ratio of 218.52, a PEG ratio of 3.78 and a beta of 2.38. Reddit Inc. has a 12-month low of $64.51 and a 12-month high of $282.95.

Reddit (NYSE:RDDT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.25. Reddit had a return on equity of 9.93% and a net margin of 12.97%.The firm had revenue of $499.63 million during the quarter, compared to analysts' expectations of $424.07 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The business's revenue for the quarter was up 77.9% on a year-over-year basis. Reddit has set its Q3 2025 guidance at EPS. On average, analysts expect that Reddit Inc. will post 1.12 earnings per share for the current fiscal 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.

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