S&P 500 falls on pressure from retail stocks, weak jobless claims
Christopher Slowe, Chief Technology Officer at Reddit, Inc. (NASDAQ:RDDT), recently executed a series of stock sales amounting to approximately $1.99 million. The transactions, disclosed in a filing with the Securities and Exchange Commission, took place on March 24, 2025. According to InvestingPro data, Reddit currently maintains a market capitalization of $22.69 billion and shows strong financial health with a current ratio of 12.63.
Slowe sold a total of 15,500 shares of Reddit’s Class A common stock. The sales were executed in multiple trades, with prices ranging from $120.17 to $126.25 per share. These transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest. The stock has shown mixed performance, with a 9.36% gain over the past week despite a 26.46% decline year-to-date.
Following these sales, Slowe retains direct ownership of 281,213 shares and additional indirect holdings through The Slowe Family Trust. The transactions reflect a strategic financial move by the executive, aligning with his previously established trading plan. InvestingPro analysis suggests Reddit is currently trading below its Fair Value, with analyst targets ranging from $75 to $235 per share. Get access to 15+ additional ProTips and comprehensive financial metrics with InvestingPro.
In other recent news, Reddit has been the subject of multiple analyst reports, highlighting various perspectives on the company’s financial outlook. Needham analysts reiterated their Buy rating with a $220 price target, emphasizing Reddit’s potential to achieve significant user growth and profitability, driven by initiatives like Generative AI and international expansion. Conversely, Guggenheim Securities lowered their price target from $210 to $170 while maintaining a Buy rating, citing a recalibration of expectations and the potential for user and revenue expansion. Raymond (NSE:RYMD) James also adjusted their price target from $250 to $200, keeping a Strong Buy rating, and noted the value of Reddit’s unique content offerings in the evolving AI landscape.
Piper Sandler increased their price target to $220, maintaining an Overweight rating, and highlighted a rebound in user engagement following a dip attributed to Google (NASDAQ:GOOGL) Search traffic fluctuations. Meanwhile, BofA Securities raised their price target to $190 but maintained a Neutral rating, acknowledging Reddit’s strong performance relative to peers but expressing caution due to a premium stock valuation and potential risks from Google prioritizing AI-generated answers. These developments underscore the mixed sentiments among analysts regarding Reddit’s growth potential and market positioning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.