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SAN FRANCISCO—Michelle Reynolds, the Chief Accounting Officer of Reddit, Inc. (NASDAQ:RDDT), recently sold a significant portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Reynolds disposed of shares totaling approximately $1.88 million. The sale comes as Reddit maintains a strong financial position, with InvestingPro data showing the company holds more cash than debt and maintains a healthy current ratio of 12.6x.
The transactions, executed on March 4, 2025, involved the sale of Class A Common Stock at prices ranging from $151.35 to $164.31 per share. Following these sales, Reynolds now holds 48,418 shares of Reddit’s Class A Common Stock.
These sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential accusations of insider trading. The trading plan was adopted by Reynolds on December 3, 2024.
Investors and analysts will be watching closely to see if these transactions signal any broader trends or changes within Reddit, a prominent player in the online community and social media space.
In other recent news, Reddit has seen a series of updates regarding its stock price targets and analyst ratings. Piper Sandler raised Reddit’s stock price target to $220 while maintaining an Overweight rating, citing a rebound in user engagement and increased average revenue per user despite a dip in user growth. BofA Securities increased their target to $190 but maintained a Neutral rating, acknowledging Reddit’s strong performance yet expressing caution due to a smaller-than-expected revenue margin and potential risks from Google (NASDAQ:GOOGL) traffic changes. Meanwhile, Bernstein SocGen Group reaffirmed an Underperform rating with a $150 price target, highlighting competition in the digital advertising space and Reddit’s mixed earnings report.
JPMorgan also adjusted their price target for Reddit to $185, maintaining a Neutral rating. The firm noted Reddit’s strong advertising revenue growth and improved profitability, despite challenges in daily active user growth due to changes in Google’s search algorithm. Jefferies slightly lowered their target to $225 but kept a Buy rating, pointing to Reddit’s successful diversification in advertising revenue and potential for sustained growth. These developments reflect varying perspectives among analysts on Reddit’s financial performance and growth potential in a competitive market.
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