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Christopher Slowe, Chief Technology Officer of Reddit, Inc. (NASDAQ:RDDT), recently sold shares worth approximately $4.23 million, according to a recent SEC filing. The transactions, dated February 24, 2025, involved multiple sales of Class A Common Stock at prices ranging from $155.52 to $165.71 per share. The sales come as Reddit, now valued at nearly $29 billion, trades above its InvestingPro Fair Value, with impressive gross margins of 90.5%.
The filing details that Slowe executed these sales under a Rule 10b5-1 trading plan, ensuring a pre-determined schedule for selling shares. This plan was adopted on May 21, 2024, providing a structured approach to divestment. The stock has shown remarkable strength, delivering a 233% return over the past year.
Following these transactions, Slowe retains ownership of 281,213 shares directly, with additional holdings managed through the Slowe Family Trust. The sales reflect a significant divestment from Slowe, who continues to serve as Reddit’s CTO, a role that involves steering the company’s technology strategy. InvestingPro analysis reveals 14 additional investment tips for Reddit, including detailed insights on its financial health and growth prospects. Get the complete analysis in the Pro Research Report, available exclusively to subscribers.
In other recent news, Reddit has been the focus of several analyst reports following its recent earnings announcement. Piper Sandler raised Reddit’s price target to $220, maintaining an Overweight rating, citing a rebound in user engagement and an increase in average revenue per user. Despite this, BofA Securities adjusted their price target to $190, maintaining a Neutral rating due to a smaller-than-expected revenue beat and concerns over user growth. Bernstein SocGen Group reaffirmed its Underperform rating with a price target of $150, highlighting mixed earnings results and user engagement challenges.
JPMorgan increased Reddit’s price target to $185, keeping a Neutral rating while noting strong advertising revenue growth and improved profitability, despite slower daily active user growth. Jefferies slightly reduced its price target to $225 but maintained a Buy rating, expressing optimism about Reddit’s advertising revenue and future growth potential. Analysts have highlighted Reddit’s ability to diversify its advertising streams and increase engagement, despite challenges with user growth and reliance on Google (NASDAQ:GOOGL) search traffic. These developments reflect the ongoing complexities and opportunities within Reddit’s business strategy and market environment.
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