In a filing, Reddit Inc. revealed its Chief Technology Officer Slowe Christopher Brian unloaded Company’s shares for reported $0.72 million on Sep 23 ’24. In the deal valued at $65.56 per share,11,000 shares were sold. As a result of this transaction, Slowe Christopher Brian now holds 339,295 shares worth roughly $22.38 million.
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Then, Slowe Christopher Brian sold 5,000 shares, generating $328,016 in total proceeds. Upon selling the shares at $65.60, the Chief Technology Officer now owns 35,068 shares.
Before that, Wong Jennifer L. sold 50,000 shares. Reddit Inc. shares valued at $3,250,500 were divested by the Chief Operating Officer at a price of $65.01 per share. As a result of the transaction, Wong Jennifer L. now holds 1,542,457 shares, worth roughly $101.76 million.
B. Riley Securities initiated its Reddit Inc. [RDDT] rating to a Buy in a research note published on September 20, 2024; the price target was $75. A number of analysts have revised their coverage, including Loop Capital’s analysts, who increased its forecast for the stock in early August from “a Hold” to “a Buy”. ROTH MKM also remained covering RDDT and reiterated its “Buy” recommendation on July 26, 2024. Loop Capital revised its rating on July 16, 2024. It rated RDDT as “a Hold” which previously was an “a Buy”.
Price Performance Review of RDDT
On Tuesday, Reddit Inc. [NYSE:RDDT] saw its stock jump 0.08% to $65.97. Over the last five days, the stock has lost -1.48%. Reddit Inc. shares have risen nearly 30.79% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 64.79, which if violated will result in even more drops to 63.60. On the upside, there is a resistance level at 66.88. A further resistance level may holdings at 67.79. The Relative Strength Index (RSI) on the 14-day chart is 60.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.07, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 26.41%. Stochastics %K at 78.22% indicates the stock is a holding.
How much short interest is there in Reddit Inc.?
A steep rise in short interest was recorded in Reddit Inc. stocks on 2024-09-13, dropping by -1.88 million shares to a total of 5.23 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 7.11 million shares. There was a decline of -35.98%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 08, 2024 when Needham resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $63.
