Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Reddit Inc. shares valued at $926,842 were sold by Huffman Steve Ladd on Sep 30 ’24. At $66.20 per share, Huffman Steve Ladd sold 14,000 shares. The insider’s holdings dropped to 651,775 shares worth approximately $50.36 million following the completion of this transaction.
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Also, Slowe Christopher Brian sold 11,000 shares, netting a total of over 721,165 in proceeds. Following the sale of shares at $65.56 each, the insider now holds 339,295 shares.
Before that, Slowe Christopher Brian had sold 5,000 shares from its account. In a trade valued at $328,016, the Chief Technology Officer traded Reddit Inc. shares for $65.60 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $2.71 million.
As published in their initiating research note from Jefferies on October 09, 2024, Reddit Inc. [RDDT] has been a Buy and the price target has been revised to $90. Analysts at B. Riley Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of August 01, 2024, Loop Capital has increased its “Hold” rating to a “Buy” for RDDT. Earlier on July 26, 2024, ROTH MKM 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 8.82%. Over the course of the year, Reddit Inc. shares have jumped approximately 53.17%. Nevertheless, trading volume fell to 4.45 million shares from 5.7 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 74.61, which, if violated, would cause prices to drop to 71.96. In the upper region, resistance lies at 78.89. The next price resistance is at 80.52. RSI (Relative Strength Index) is 74.47 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.11, which suggests the price will increase in the coming days. Percent R is at 4.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
