Reddit Inc. reported that Chief Operating Officer Jennifer L. Wong completed sales of Class A Common Stock totaling $5.6 million on February 24, 2026. The transactions were carried out in multiple lots at prices spanning $141.82 to $147.47 per share, according to a Form 4 filing with the Securities and Exchange Commission.
The filing details the direct sales by Wong as follows: 9,710 shares at a weighted average price of $141.82; 3,106 shares at a weighted average price of $142.57; 10,024 shares at a weighted average price of $143.66; 3,472 shares at a weighted average price of $144.47; 2,820 shares at a weighted average price of $145.78; 1,545 shares at a weighted average price of $146.64; and 100 shares at a price of $147.47. These direct transactions are reported to have generated $4.4 million in proceeds.
In addition to the direct sales, Wong sold shares through the MorMa Trust dated June 22, 2021. Those trust transactions are listed in the filing as: 2,388 shares at a weighted average price of $141.82; 1,400 shares at a weighted average price of $142.49; 2,778 shares at a weighted average price of $143.72; 800 shares at a weighted average price of $144.55; 800 shares at a weighted average price of $145.88; and 300 shares at a price of $146.71. The trust sales totaled $1.2 million.
Separately, on February 20, 2026, the company withheld 38,141 shares of Class A Common Stock to satisfy Wong's tax withholding obligations at a price of $146.13 per share. The value of the withheld shares was reported as $5.5 million.
Following these reported transactions and withholdings, Wong's holdings are listed as 1,088,451 shares of Reddit Class A Common Stock owned directly, and an additional 41,658 shares held indirectly through the MorMa Trust.
The sales were made pursuant to a Rule 10b5-1 trading plan that Wong adopted on May 16, 2025, the filing states.
Those moves by the company executive come against a backdrop of notable share price weakness for Reddit year-to-date. The stock has declined 38 percent so far in 2026, trading at $142.08 and well below its 52-week high of $282.95.
Market analysis referenced in the filing indicates differing views on valuation. InvestingPro analysis included in reports on the company describes Reddit as appearing undervalued by one metric, noting a price/earnings-to-growth ratio of 0.29 and offering additional ProTips and Fair Value assessments for investors who want deeper analysis.
Reddit's recent operating results provide context for investor reactions. For the fourth quarter of 2025 the company reported revenue of $725.6 million, a 70 percent increase year-over-year. Adjusted EBITDA for the quarter rose 112 percent from the prior year, beating analysts' estimates by 16 percent, according to commentary attributed to Needham's Laura Martin.
Following the quarterly results, Truist Securities raised its price target on Reddit to $275, citing what it described as a Classic Beat & Raise performance and the company's announcement of a new $1 billion share buyback program. Meanwhile, Citizens kept a Market Outperform rating with a $300 price target, highlighting advertising revenue growth of 75 percent year-over-year in the fourth quarter while noting a 10.5 percent year-over-year decline in U.S. time spent on the platform in January.
Regulatory developments also figure into the company picture. The U.K. Information Commissioner's Office levied a fine of A314.47 million against Reddit for inadequate protection of children's personal information. The regulator criticized the company's reliance on self-declaration as an insufficient method for age verification.
Collectively, the insider sales, recent financial results, analyst reactions, and regulatory action present a mixed set of signals for market participants as Reddit navigates growth in revenue and advertising while addressing user engagement trends and compliance issues.