Reddit CEO Steve Huffman sells shares price $21.5 million

SAN FRANCISCO—Steve Huffman, CEO and President of Reddit, Inc. (NASDAQ:RDDT), bought shares of the corporate’s Class A typical inventory totaling roughly $21.5 million on January 15, 2025. The shares had been bought at costs starting from $168.05 to $178.48 per share. The sale comes as Reddit, now valued at $30.7 billion, has seen its inventory surge 247% over the previous yr, in response to InvestingPro information.

The transactions had been a part of a sequence of gross sales executed beneath a pre-established Rule 10b5-1 buying and selling plan. This plan, adopted by Huffman on Might 21, 2024, permits insiders of publicly traded companies to arrange a buying and selling plan for promoting shares they personal.

Following these gross sales, Huffman continues to carry a considerable variety of shares, each immediately and not directly. The transactions had been disclosed in a Kind 4 submitting with the Securities and Change Fee, detailing the sale of shares owned immediately by Huffman and thru The XYZ Revocable Belief.

Traders and market watchers typically scrutinize such filings to gauge insider sentiment about an organization’s inventory.

In different latest information, Reddit has been the topic of a number of monetary companies’ evaluation, with a common consensus on the corporate’s promising progress trajectory. Piper Sandler maintained an Chubby ranking on Reddit, elevating its value goal to $197, citing consumer progress and advert stock enlargement as key progress drivers. The agency additionally projected Reddit’s This fall income to achieve $402 million, a 61% improve year-over-year. B.Riley, one other monetary agency, elevated its value goal on Reddit to $187, sustaining a Purchase ranking, and highlighted Reddit’s potential to surpass expectations inside its class.

Morgan Stanley (NYSE:MS) upgraded Reddit’s inventory from Equalweight to Chubby, setting a brand new value goal of $200, anticipating a 35% progress in U.S. promoting income for Reddit between 2024 and 2027. Nonetheless, BofA Securities maintained a Impartial ranking on Reddit, warning of a possible slowdown within the second half of 2025, regardless of rising the worth goal to $180.

Citi, expressing confidence in Reddit’s progress, lifted the corporate’s value goal from $120 to $200, citing Reddit’s sustained engagement progress and the introduction of latest merchandise as key drivers. Needham echoed Citi’s bullish sentiment, elevating Reddit’s value goal to $190, based mostly on the corporate’s sturdy consumer progress and rising common income per consumer. Reddit lately skilled a significant outage affecting 1000’s of customers following a software program bug repair. These are the latest developments within the firm’s efficiency and market place.

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