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Jennifer L. Wong, Chief Operating Officer of Reddit, Inc. (NASDAQ:RDDT), recently reported significant stock transactions as part of her role in the company. According to a recent SEC filing, Wong sold a total of 29,333 shares of Reddit’s Class A Common Stock on March 17, 2025. These sales were executed at prices ranging from $120.73 to $140.90 per share, amounting to a total value of approximately $4.17 million. The stock, currently trading at $109.85, has seen significant volatility with a 70% gain over the past six months despite a recent 16% decline in the past week.
The transactions were carried out under a Rule 10b5-1 trading plan, which Wong adopted in May 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks, providing a degree of protection against allegations of insider trading. According to InvestingPro analysis, Reddit shows promising potential with analyst targets ranging from $75 to $235, and 5 analysts have recently revised their earnings estimates upward. InvestingPro offers 14 additional investment tips for RDDT, available with a subscription.
In addition to the sales, Wong also exercised stock options for 33,333 shares of Reddit’s Class A Common Stock. However, these option exercises were at no cost, as reflected in the filing.
Following these transactions, Wong holds a direct ownership of 1,467,119 shares of Reddit’s Class A Common Stock. Additionally, she retains an indirect ownership of 161,000 shares through the MorMa Trust. These transactions are part of the regular financial activities of company executives, offering insights into their confidence in the company’s future performance.
In other recent news, Reddit has been the focus of various analyst firms adjusting their price targets. Raymond (NSE:RYMD) James reduced its price target for Reddit shares from $250 to $200, while maintaining a Strong Buy rating, citing the evolving AI landscape and Reddit’s unique content offerings. On the other hand, Piper Sandler increased their price target to $220 from $210, attributing the change to a rebound in user engagement and increased average revenue per user, while maintaining an Overweight rating. BofA Securities adjusted their price target to $190, up from $180, but kept a Neutral rating, noting strong sales and cost management despite a smaller-than-expected revenue margin.
Meanwhile, Bernstein SocGen Group reaffirmed an Underperform rating with a price target of $150, highlighting mixed earnings results and user engagement challenges. JPMorgan raised its price target to $185 from $142, maintaining a Neutral rating, while acknowledging Reddit’s robust ad revenue growth and profitability gains despite challenges with daily active user growth. Reddit’s advertising revenue grew significantly, with strong performance across multiple verticals, and the company achieved its first full year of free cash flow profit in 2024. Reddit’s stock might also find support from its anticipated inclusion in the MSCI World Index, which could drive demand for shares.
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