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Reddit (NASDAQ:RDDT) CEO Steve Huffman sold 18,000 shares of Class A Common Stock on August 29, 2025, at prices ranging from $220.43 to $226.70, for a total value of $4,021,464. The transaction comes as Reddit shares have surged nearly 288% over the past year, with the stock currently trading at elevated multiples according to InvestingPro data.
On the same day, Huffman exercised options to acquire 18,000 shares of Reddit’s Class A Common Stock at a price of $0.00, stemming from stock options with an exercise price of $25.29.
Following these transactions, Huffman indirectly holds 494,104 shares of Class A Common Stock through The XYZ Revocable Trust.
In other recent news, Reddit has reported impressive second-quarter results, surpassing expectations in both revenue and EBITDA. The company exceeded the high end of its guidance by $70 million in revenue and $37 million in EBITDA, with advertising revenue growth accelerating to 84% year-over-year. Following these strong results, several analyst firms have adjusted their price targets for Reddit. Deutsche Bank raised its price target to $205, maintaining a Buy rating, while Morgan Stanley increased its target to $230, citing better-than-expected user metrics. Citizens JMP also lifted its target to $225, noting the company’s strong earnings report. Additionally, BofA Securities raised its price target to $180, highlighting Reddit’s strong execution and rapidly growing advertiser adoption. RBC Capital maintained its Sector Perform rating with a $210 price target, emphasizing growth sustainability. These developments reflect a positive outlook for Reddit, driven by robust user growth and advertising performance.
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