GK Wealth Management LLC acquired a new position in Reddit Inc. (NYSE:RDDT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 7,519 shares of the company's stock, valued at approximately $1,305,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. LOM Asset Management Ltd bought a new stake in Reddit during the fourth quarter worth approximately $33,000. Sunbelt Securities Inc. lifted its position in shares of Reddit by 87.5% during the 1st quarter. Sunbelt Securities Inc. now owns 195 shares of the company's stock valued at $26,000 after acquiring an additional 91 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Reddit during the 4th quarter valued at $46,000. Sound Income Strategies LLC bought a new stake in shares of Reddit during the 4th quarter worth $47,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Reddit by 214.3% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 220 shares of the company's stock worth $51,000 after acquiring an additional 150 shares in the last quarter.
Insiders Place Their Bets
In other news, CEO Steve Ladd Huffman sold 18,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $173.13, for a total value of $3,116,340.00. Following the completion of the sale, the chief executive officer directly owned 373,814 shares of the company's stock, valued at $64,718,417.82. This represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $200.00, for a total transaction of $161,600.00. Following the sale, the chief accounting officer owned 15,060 shares of the company's stock, valued at approximately $3,012,000. This represents a 5.09% decrease in their ownership of the stock. 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 ninety days, insiders sold 151,141 shares of company stock worth $25,588,445. 28.48% of the stock is currently owned by company insiders.
Reddit Stock Up 3.4%
RDDT opened at $159.93 on Wednesday. The firm has a market capitalization of $30.79 billion, a P/E ratio of 37.19, a PEG ratio of 0.54 and a beta of 2.04. The stock has a fifty day moving average of $177.29 and a 200-day moving average of $162.98. Reddit Inc. has a 12-month low of $119.27 and a 12-month high of $282.95.
Reddit (NYSE:RDDT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.30. The business had revenue of $804.91 million for the quarter, compared to the consensus estimate of $731.00 million. Reddit had a return on equity of 29.02% and a net margin of 31.35%.Reddit's revenue for the quarter was up 61.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, analysts expect that Reddit Inc. will post 5.03 earnings per share for the current fiscal year.
Analyst Ratings Changes
RDDT has been the topic of a number of recent research reports. Piper Sandler restated an "overweight" rating and issued a $195.00 target price (down from $215.00) on shares of Reddit in a report on Friday. Zacks Research upgraded Reddit from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Reddit in a research note on Friday, May 8th. UBS Group restated a "buy" rating on shares of Reddit in a report on Friday. Finally, Evercore reaffirmed an "outperform" rating and set a $265.00 price objective on shares of Reddit in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Reddit has a consensus rating of "Moderate Buy" and an average price target of $220.90.
Read Our Latest Stock Analysis on RDDT
More Reddit News
Here are the key news stories impacting Reddit this week:
- Positive Sentiment: Strong Q2 results and outlook support the rebound. Reddit reported revenue of $804.9 million, up 61% year over year, and EPS of $1.25, beating estimates of $731 million and $0.95, respectively. Advertising revenue rose 64%, while management’s Q3 revenue and adjusted EBITDA guidance of $860 million–$870 million and $385 million–$395 million exceeded consensus expectations. Reddit Q2 review
- Positive Sentiment: Improving monetization and cash flow are attracting buyers. Global daily active unique users reached 130.3 million, and Reddit generated more than $1 billion in trailing-12-month operating cash flow. Analysts highlighted a 24% increase in U.S. average revenue per user, suggesting stronger monetization can offset slower user growth. Reddit valuation and free cash flow analysis
- Positive Sentiment: Reddit continues advancing its digital advertising strategy. Coverage points to expanding advertising tools and stronger monetization of highly engaged users as potential long-term growth drivers. Reddit digital advertising strategy
- Neutral Sentiment: Analyst views remain broadly constructive but targets are mixed. Some firms lowered targets, including Cantor Fitzgerald to $170 and Wedbush to $221, while another analyst raised its target to $275. The differing estimates reflect strong fundamentals but uncertainty about user growth and search traffic. Cantor Fitzgerald target change Reddit price target increase
- Negative Sentiment: Flat U.S. logged-in user growth remains the principal concern. U.S. daily active users declined slightly quarter over quarter to 53.2 million, while logged-in users fell to 23.1 million from 23.2 million. Investors are questioning whether monetization gains can continue if engagement growth stagnates, particularly as Reddit stops separately reporting logged-in and logged-out users. Reddit U.S. user growth concerns
- Negative Sentiment: Search-referral volatility and legal scrutiny add risk. Investors remain concerned that changes in search traffic could reduce Reddit’s less-engaged audience. Separately, Bragar Eagel & Squire announced an investigation on behalf of long-term shareholders, which could create additional reputational and legal overhang, although no wrongdoing has been established. Reddit shareholder investigation
About Reddit
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding RDDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reddit Inc. (NYSE:RDDT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Reddit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Reddit wasn't on the list.
While Reddit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead.
This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
