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SAN FRANCISCO—Lee Benjamin Seong, Chief Legal Officer of Reddit, Inc. (NASDAQ:RDDT), recently executed significant transactions involving the company’s Class A Common Stock. The social media platform, currently valued at $30.49 billion, has shown impressive revenue growth of 62% in the last twelve months. According to a recent SEC filing, Seong sold shares totaling approximately $14.52 million on March 4, 2025.
The sales were conducted through multiple transactions, with prices ranging from $149.17 to $164.34 per share. These sales were part of a pre-established Rule 10b5-1 trading plan adopted by Seong in December 2024. The stock has demonstrated strong momentum, delivering a remarkable 165% return over the past six months, according to InvestingPro data.
Additionally, Seong exercised stock options to acquire 75,000 shares at $7.92 per share, amounting to $594,000. Following these transactions, Seong retains direct ownership of 115,001 shares of Reddit’s Class A Common Stock. InvestingPro analysis shows Reddit maintains strong financial health with a current ratio of 12.63, while analysts project positive earnings of $3.61 per share for fiscal year 2025.
These moves by Reddit’s legal chief are notable as they come amid ongoing discussions about the company’s growth trajectory and market positioning. The stock is currently trading near its InvestingPro Fair Value, with 14 additional exclusive insights available to subscribers. Investors and analysts will likely keep a close watch on any future transactions by company insiders.
In other recent news, Reddit has reported several key developments that may interest investors. Piper Sandler has raised its price target for Reddit to $220, maintaining an Overweight rating, following a review of user engagement metrics and a positive rebound in the platform’s audience. Meanwhile, BofA Securities adjusted Reddit’s price target to $190, holding a Neutral rating, and noted Reddit’s strong performance relative to industry peers, despite a smaller-than-expected revenue margin above guidance. Additionally, JPMorgan increased its price target for Reddit to $185, maintaining a Neutral rating, and highlighted the company’s robust advertising revenue growth and profitability gains.
However, Bernstein SocGen Group reaffirmed its Underperform rating, keeping the price target at $150, citing issues with user engagement that impacted Reddit’s stock performance. Jefferies also adjusted its price target slightly down to $225 while maintaining a Buy rating, pointing to Reddit’s continued success in diversifying its revenue streams and product offerings. Despite some concerns about user growth, analysts have noted Reddit’s strong advertising revenue growth and potential for continued financial success. These developments reflect a range of analyst perspectives on Reddit’s current performance and future prospects in a competitive digital landscape.
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