CEO of Reddit Steve Huffman sells RDDT shares. Do you have?

Reddit (RDDT) was under pressure on Wednesday after the data confirmed the CEO of Steve Huffman has confirmed social media shares since early August.

Hoffman has sold shares several times in recent weeks. In addition, the chief accountant Michelle Reynolds has reduced its share in the California -based company with more than $ 700,000 on August 5.

Reddit Stock has been strong in recent months. At the time of writing this report, about 33 % increased per year so far.

It seems that these sales from the last interior heralds badly for a company listed on the New York Stock Exchange. Investors see the sale of the informed as a warning to confidence in Reddit.

However, investors should notice that these transactions were made as part of 105B-1 trading plans, which are traditional for company executives.

However, these sales can inflate anxiety and can lead to a wider sale, which is why RDDT closes on Wednesday.

While those familiar with the exchange of Reddit shares this month, Argus Research prefers to own them in the long run by looking at the company’s “promising” growth runway.

According to its analysts, RDDT is strongly spent on research and development (R&D), which they believe will lead to meaningful growth in the average daily users over time.

In addition, San Francisco, which is based in San Francisco, is in a strong position to steal the share of competitors in the large and partial advertising market, they told customers in the last research note.

The clean public budget was among other reasons the investment company was martyred with its upward presence on RDDT shares. Argus currently has $ 250 per price on social media shares, indicating the possibility of ascending to nearly 15 % of here.

However, investors should notice that other Wall Street companies do not participate in the optimism of Argus Research on Reddit shares.

Although the category of consensus on RDDT shares remains at “Buy Modera”, the average goal is about $ 190 indicating the anecdotal side of about 12 % of the current levels.

On the date of publication, Wajeeh Khan did not have positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are only for media purposes. This article was originally published on Barchart.com