Reddit Inc.’s filing revealed that its CEO & President Huffman Steve Ladd unloaded Company’s shares for reported $0.93 million on Sep 30 ’24. In the deal valued at $66.20 per share,14,000 shares were sold. As a result of this transaction, Huffman Steve Ladd now holds 651,775 shares worth roughly $47.74 million.
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Then, Slowe Christopher Brian sold 11,000 shares, generating $721,165 in total proceeds. Upon selling the shares at $65.56, the Chief Technology Officer now owns 339,295 shares.
Before that, Slowe Christopher Brian sold 5,000 shares. Reddit Inc. shares valued at $328,016 were divested by the Chief Technology Officer at a price of $65.60 per share. As a result of the transaction, Slowe Christopher Brian now holds 35,068 shares, worth roughly $2.57 million.
Jefferies initiated its Reddit Inc. [RDDT] rating to a Buy in a research note published on October 09, 2024; the price target was $90. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in mid September with a ‘”a Buy”‘ rating. Loop Capital also remained covering RDDT and has increased its forecast on August 01, 2024 with a “Buy” recommendation from previously “Hold” rating. ROTH MKM maintained its rating on July 26, 2024. It rated RDDT as “a Buy”.
Price Performance Review of RDDT
On Friday, Reddit Inc. [NYSE:RDDT] saw its stock jump 4.79% to $73.25. Over the last five days, the stock has gained 1.20%. Reddit Inc. shares have risen nearly 45.22% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 70.91, which if violated will result in even more drops to 68.57. On the upside, there is a resistance level at 74.42. A further resistance level may holdings at 75.59. The Relative Strength Index (RSI) on the 14-day chart is 68.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.57, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 16.81%. Stochastics %K at 67.10% 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 2024-09-30, growing by 1.53 million shares to a total of 7.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.58 million shares. There was a rise of 21.54%, which implies that there is a positive sentiment for the stock.
