In a filing, Reddit Inc. revealed its Chief Operating Officer Wong Jennifer L. unloaded Company’s shares for reported $2.54 million on Oct 16 ’24. In the deal valued at $76.27 per share,33,334 shares were sold. As a result of this transaction, Wong Jennifer L. now holds 1,542,457 shares worth roughly $124.78 million.
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Then, Huffman Steve Ladd sold 110,408 shares, generating $8,329,639 in total proceeds. Upon selling the shares at $75.44, the CEO & President now owns 0 shares.
Before that, Huffman Steve Ladd sold 14,000 shares. Reddit Inc. shares valued at $1,056,056 were divested by the CEO & President at a price of $75.43 per share. As a result of the transaction, Huffman Steve Ladd now holds 651,775 shares, worth roughly $52.73 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 6.04% to $80.90. Over the last five days, the stock has gained 10.44%. Reddit Inc. shares have risen nearly 60.39% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 77.76, which if violated will result in even more drops to 74.62. On the upside, there is a resistance level at 82.70. A further resistance level may holdings at 84.50. The Relative Strength Index (RSI) on the 14-day chart is 76.67, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.76, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.73%. Stochastics %K at 91.83% indicates the stock is a selling.
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.
