The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Reddit Inc. shares valued at $401,766 were sold by Huffman Steve Ladd on Aug 30 ’24. At $59.84 per share, Huffman Steve Ladd sold 6,714 shares. The insider’s holdings dropped to 658,352 shares worth approximately $39.42 million following the completion of this transaction.
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Also, Reynolds Michelle Marie sold 8,000 shares, netting a total of over 480,000 in proceeds. Following the sale of shares at $60.00 each, the insider now holds 66,238 shares.
Before that, MICHELLE REYNOLDS had added 8,000 shares to its account. In a trade valued at $466,080, the Officer bought Reddit Inc. shares for $58.26 each.
As published in a research note from Loop Capital on August 01, 2024, Reddit Inc. [RDDT] has been rated up from a Hold to a Buy and the price target has been revised to $75. Analysts at ROTH MKM resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of July 16, 2024, Loop Capital has decreased its “Buy” rating to a “Hold” for RDDT. Earlier on May 08, 2024, Needham resumed its rating. Their recommendation was “a Buy” for RDDT stock.
Analyzing RDDT Stock Performance
During the last five days, there has been a surge of approximately 5.04%. Over the course of the year, Reddit Inc. shares have jumped approximately 18.70%. Nevertheless, trading volume fell to 3.42 million shares from 2.62 million shares the previous day.
Support And Resistance Levels for Reddit Inc. (RDDT)
According to the 24-hour chart, there is a support level at 57.14, which, if violated, would cause prices to drop to 54.41. In the upper region, resistance lies at 61.30. The next price resistance is at 62.73. RSI (Relative Strength Index) is 54.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 10.02%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
