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Reddit, Inc. (NASDAQ:RDDT), the social media platform currently valued at nearly $26 billion and trading at $141.68, saw its Chief Technology Officer Christopher Brian Slowe sell 14,093 shares of Class A Common Stock on June 23, 2025, for approximately $2.18 million. The sales were executed in multiple trades with prices ranging from $133.93 to $141.48. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
According to a Form 4 filing with the Securities and Exchange Commission, the transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 21, 2024.
Specifically, Slowe sold 4,237 shares at a weighted average price of $133.93, 2,300 shares at $135.09, 2,923 shares at $136.07, 1,800 shares at $137.03, 1,800 shares at $138.55, 1,732 shares at $139.57, 1,100 shares at $140.54 and 108 shares at $141.48.
On the same day, Slowe also exercised options to acquire 11,000 shares of Class A Common Stock for $1.93 each. Additionally, 11,000 shares of Class B Common Stock were converted into Class A Common Stock.
Following these transactions, Slowe directly owns 246,373 shares of Reddit Class A Common Stock. He also indirectly owns 20,184 shares through The Slowe Family Trust dated January 26, 2012.
In other recent news, Reddit introduced two AI-powered advertising tools aimed at enhancing brand engagement by utilizing user conversations on the platform. The new features, "Reddit Insights" and "Conversation Summary Add-ons," are designed to provide marketers with real-time insights and integrate positive user comments beneath advertisements. Loop Capital recently lowered its price target for Reddit to $200 from $210, citing concerns over slowing user growth, though it maintained a Buy rating. Despite these challenges, Loop Capital projects long-term user growth and revenue potential for Reddit, with the possibility of reaching 200 million daily active users by 2029.
Piper Sandler reported a decline in Reddit’s user numbers for the third consecutive month, with a notable drop in feed ad units. The firm noted that despite the slowdown, the overall digital advertising market is showing signs of strengthening. In a separate development, Reddit announced the departure of its Chief Product Officer, Pali Bhat, with interim responsibilities assigned to other executives. Meanwhile, Reddit’s stock saw an uptick following a lawsuit filed against AI firm Anthropic for allegedly unauthorized data usage.
Reddit’s legal action against Anthropic highlights its commitment to protecting its user data and intellectual property. The company is seeking damages and an injunction to enforce compliance with its data usage policies. These recent developments indicate Reddit’s ongoing efforts to navigate challenges and opportunities in the digital landscape.
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