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Steve Huffman, CEO and President of Reddit, Inc. (NASDAQ:RDDT), recently executed a series of stock transactions, according to a recent SEC filing. The social media platform, currently valued at approximately $20 billion, has seen its stock surge over 130% in the past year despite recent volatility. On March 31, Huffman sold a total of 14,700 shares of Class A Common Stock, generating approximately $1.45 million. The sales were carried out under a 10b5-1 plan, with prices ranging from $98.62 to $105.78 per share. According to InvestingPro analysis, Reddit currently trades below its Fair Value, with 15+ additional key insights available to subscribers.
Following these transactions, Huffman holds 577,013 shares indirectly through The XYZ Revocable Trust. The sales are part of a broader strategy, as indicated by the automatic conversion of Class B Common Stock into Class A Common Stock, facilitating these transactions. The company maintains strong fundamentals with an impressive 90% gross profit margin and healthy liquidity ratios.
In other recent news, Reddit has been the focus of several analyst updates concerning its financial outlook and growth prospects. Needham has maintained a Buy rating with a $220 price target, noting Reddit’s potential to reach 1 billion daily active users and highlighting its strong revenue growth projections of 30% year-over-year for 2025 and 2026. Piper Sandler also raised its price target to $220, citing a rebound in user engagement and increased average revenue per user, while maintaining an Overweight rating. Conversely, Citizens JMP cut its price target for Reddit from $200 to $155, though it kept a Market Outperform rating, basing the new valuation on projected EBITDA for 2026. Guggenheim reduced its target from $210 to $170 but retained a Buy rating, expressing confidence in Reddit’s advertising revenue trajectory and potential for user growth. Raymond (NSE:RYMD) James lowered its target to $200, keeping a Strong Buy rating, emphasizing Reddit’s unique content offerings in the evolving AI and search landscape. These updates reflect varied perspectives on Reddit’s financial health and growth potential, with analysts weighing factors like user engagement, revenue growth, and competitive pressures.
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