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SAN FRANCISCO—Gale Mary Porter, a director at Reddit, Inc. (NASDAQ:RDDT), has sold a significant portion of her holdings in the company. The sale comes as Reddit’s stock has experienced a 15.6% decline over the past week, though it maintains an impressive 217% gain over the last year. According to a recent SEC filing, Porter sold a total of 20,000 shares of Class A Common Stock on February 21, 2025. The transactions were executed at prices ranging from $167.95 to $175 per share, amounting to a total value of approximately $3.39 million.
Following these sales, Porter retains ownership of 26,309 shares in Reddit. This transaction marks a notable movement in Porter’s investment in the company, reflecting her strategic financial decisions regarding her position in Reddit.
In other recent news, Reddit has seen several updates from analysts regarding its financial outlook and stock performance. Piper Sandler raised Reddit’s price target to $220, maintaining an Overweight rating, following a review of user engagement and monetization metrics. Meanwhile, BofA Securities adjusted Reddit’s price target to $190, keeping a Neutral rating, acknowledging the company’s strong performance but noting a smaller-than-expected revenue margin. On the other hand, Bernstein SocGen Group reaffirmed its Underperform rating with a price target of $150, citing challenges in user engagement and competition in the digital advertising space.
JPMorgan also increased Reddit’s price target to $185, maintaining a Neutral rating, highlighting robust ad revenue growth and improved profitability despite challenges in user growth. Jefferies slightly reduced its price target to $225 but maintained a Buy rating, emphasizing Reddit’s success in diversifying its customer base and product offerings. These recent developments reflect a range of perspectives on Reddit’s financial health and growth potential, with analysts focusing on user growth, advertising revenue, and strategic initiatives.
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