Reddit Inc.’s recently made public that its Director Sauerberg Robert A. acquired Company’s shares for reported $0.34 million on Mar 25 ’24. In the deal valued at $34.00 per share,10,000 shares were bought. As a result of this transaction, Sauerberg Robert A. now holds 10,000 shares worth roughly $0.42 million.
Then, Habiger David C bought 3,000 shares, generating $102,000 in total proceeds. Upon buying the shares at $34.00, the Director now owns 24,906 shares.
Before that, Huffman Steve Ladd sold 500,000 shares. Reddit Inc. shares valued at $16,150,000 were divested by the CEO & President at a price of $32.30 per share. As a result of the transaction, Huffman Steve Ladd now holds 710,306 shares, worth roughly $29.86 million.
Deutsche Bank initiated its Reddit Inc. [RDDT] rating to a Buy in a research note published on April 16, 2024; the price target was $50. A number of analysts have revised their coverage, including BofA Securities’s analysts, who began to cover the stock in mid April with a ‘”a Neutral”‘ rating. ROTH MKM began covering RDDT with “Buy” recommendation on April 15, 2024. Raymond James started covering the stock on April 15, 2024. It rated RDDT as “a Strong buy”.
Price Performance Review of RDDT
On Monday, Reddit Inc. [NYSE:RDDT] saw its stock jump 2.84% to $42.04. Over the last five days, the stock has gained 5.10%. Reddit Inc. shares have fallen nearly -16.65% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 40.84, which if violated will result in even more drops to 39.65. On the upside, there is a resistance level at 42.90. A further resistance level may holdings at 43.77. The Moving Average Convergence Divergence (MACD) stands at -1.69, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.23%. Stochastics %K at 30.06% indicates the stock is a holding.
The most recent change occurred on April 15, 2024 when Piper Sandler began covering the stock and recommended ‘”an Overweight”‘ rating along with a $50 price target.
