Reddit, Inc. (NASDAQ: RDDT) Chief Operating Officer Jennifer L. Wong carried out a series of stock dispositions on March 18, 2026, selling a total of $5.6 million in Class A Common Stock, according to a Form 4 filed with the U.S. Securities and Exchange Commission.
The filing breaks down the transactions in two groups. In direct sales, Wong sold 15,946 shares at a weighted average price of $142.76, 11,732 shares at $143.54, 3,929 shares at $144.51, 1,500 shares at $145.63 and 400 shares at $146.36. Those transactions together amounted to $4,784,570.
Separately, shares were sold through the MorMa Trust dated June 22, 2021: 2,758 shares at a weighted average price of $142.81, 2,100 shares at $143.68, 600 shares at $144.46, 100 shares at $145.29 and 100 shares at $146.45.
Also on March 18, Wong exercised stock options to acquire 33,507 shares of Class A Common Stock at an exercise price of $5.35 per share. The Form 4 indicates that the sales were carried out pursuant to a Rule 10b5-1 trading plan that Wong adopted on May 16, 2025.
Following these transactions, Wong directly owns 1,088,451 shares of Reddit, and she indirectly owns 36,000 shares through the MorMa Trust.
Market context and valuation notes
At the time of the filing, Reddit shares were trading at $139.85 and have fallen 47% over the last six months. The company remains profitable on a trailing twelve-month basis. Analysis by InvestingPro cited in the filing characterizes the stock as appearing undervalued at current levels and points readers to the Reddit Pro Research Report for further detail.
Recent company performance and analyst reaction
Reddit reported fourth-quarter 2025 revenue of $725.6 million, a 70% increase year-over-year, and adjusted EBITDA of $327 million, up 112% from the prior year. Those results exceeded Needham’s estimates; Needham reiterated its Buy rating and maintained a $300 price target. Truist Securities increased its price target to $275 and cited the company’s strong performance alongside a new $1 billion share buyback program. Citizens reaffirmed its Market Outperform rating, highlighting advertising revenue growth of 75% year-over-year in the fourth quarter.
However, Citizens also flagged a decline in engagement metrics, noting a 10.5% drop in U.S. time spent on the platform in January.
Regulatory development
On the regulatory front, Reddit was fined £14.47 million in the United Kingdom for shortcomings in how it managed children's personal information. The U.K. Information Commissioner’s Office criticized the company for not putting sufficient age verification measures in place until July 2025.
The sequence of insider selling, option exercise and the broader corporate updates provide multiple data points for investors assessing Reddit’s near-term outlook: significant management share movement executed under a pre-established trading plan, strong recent earnings and cash-return actions, a noted decline in user engagement in some markets, and a material regulatory fine in the U.K.
Additional valuation tools referenced in the material include a Fair Value calculator that uses a mix of 17 industry valuation models to estimate stock value, described as a method to assess whether RDDT is currently a bargain.