TL;DR
Chief Operating Officer Wong disposes of RDDT shares through systematic trading plan as stock trades near highs.
July 21, 2025
Reddit Inc. (NASDAQ: RDDT) Chief Operating Officer Jennifer L. Wong executed a substantial share sale totaling $4.74 million on July 16, 2025, as the social media platform’s stock continues trading near elevated levels following a remarkable 129% gain over the past year.
Executive Transaction Details
COO Jennifer Wong’s Strategic Disposal
Chief Operating Officer Jennifer L. Wong disposed of 33,334 shares of Class A Common Stock through eight separate transactions at prices ranging from $139.15 to $145.90 per share, generating total proceeds of $4.74 million at a weighted average price of $142.06.
Wong’s largest single transaction involved 8,000 shares at $140.07, while other significant sales included 7,989 shares at $142.18 and 6,535 shares at $144.18.
Additional transactions included 4,910 shares at $143.08, 3,600 shares at $141.12, 1,300 shares at $139.15, 900 shares at $145.12, and 100 shares at $145.90.
Simultaneously, Wong exercised stock options to acquire 33,334 shares at $5.35 per share, representing a significant spread between the exercise price and market value.
This coordinated pattern suggests execution under a predetermined trading plan designed to realize gains while maintaining position size.
Trading Plan Compliance and Ownership
The transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Wong on May 21, 2024.
These predetermined arrangements provide legal protection by demonstrating sales were scheduled in advance rather than based on material nonpublic information.
Following these transactions, Wong directly owns 1,428,007 shares of Reddit Class A Common Stock, maintains 161,000 shares through the MorMa Trust, and retains 336,453 shares through stock options, indicating continued substantial shareholder alignment.
Market Context and Investment Implications
The insider selling comes as Reddit trades near elevated levels, with recent introduction of AI-powered advertising tools including “Reddit Insights” and “Conversation Summary Add-ons” to enhance brand engagement.
Recent analyst coverage shows mixed sentiment.
- JMP Securities maintains a Market Outperform rating with a $180 price target despite user engagement concerns.
- Baird raised its target to $151 citing improved site traffic.
- Wells Fargo increased its target to $118, highlighting stabilizing advertising trends.
The $4.74 million disposal represents routine portfolio management at premium valuations, particularly given substantial gains from the option exercise spread. Wong’s retention of significant ownership demonstrates continued confidence in Reddit’s prospects.
With Reddit’s earnings scheduled for July 31, 2025, the systematic sale execution across multiple price points suggests careful planning to optimize proceeds while minimizing market impact during continued investor enthusiasm for the platform’s growth potential.