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Jennifer Wong, the Chief Operating Officer of Reddit, Inc. (NASDAQ:RDDT), recently sold a significant portion of her holdings in the company. According to a filing submitted to the Securities and Exchange Commission, Wong executed a series of stock sales on February 18, 2025, totaling approximately $6.26 million. The sales involved multiple transactions with prices ranging from $184.66 to $196.05 per share. This insider activity comes as Reddit, now valued at $35.53 billion, has seen its stock surge over 208% in the past six months. InvestingPro analysis suggests the stock is currently trading above its Fair Value.
In addition to these sales, Wong also exercised stock options, acquiring 33,333 shares of Class A Common Stock. These transactions were part of a pre-established trading plan under Rule 10b5-1, adopted on May 21, 2024. Following these activities, Wong’s direct ownership stands at 1,507,196 shares.
Notably, the filing also disclosed that 38,178 shares were withheld to satisfy tax obligations, which were not part of the market sales.
In other recent news, Reddit’s financial performance and analyst evaluations have been in the spotlight. Reddit’s revenue has shown strong growth, with the company reporting a 60% year-over-year increase in ad revenue for the fourth quarter, bolstered by robust advertising across multiple verticals. JPMorgan raised its price target for Reddit shares to $185, citing the company’s continued success in capturing a larger share of advertiser budgets despite challenges with daily active user growth. Similarly, BofA Securities lifted its price target to $190, acknowledging Reddit’s solid sales and cost management strategies, although they maintained a Neutral rating due to anticipated revenue growth slowdown.
Jefferies adjusted Reddit’s price target to $225 while retaining a Buy rating, highlighting Reddit’s diversification in customer base and product offerings as a driver for future growth. Raymond (NSE:RYMD) James maintained a Strong Buy rating with a $250 price target, emphasizing Reddit’s recovery in daily active user growth and international expansion. However, Bernstein SocGen Group reaffirmed an Underperform rating with a $150 price target, pointing out issues with user engagement as a concern. These developments reflect a complex landscape for Reddit, with varying analyst perspectives on its performance and future prospects.
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