Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Reddit Inc. shares valued at $2,542,458 were sold by Wong Jennifer L. on Oct 16 ’24. At $76.27 per share, Wong Jennifer L. sold 33,334 shares. The insider’s holdings dropped to 1,542,457 shares worth approximately $119.82 million following the completion of this transaction.
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Also, Huffman Steve Ladd sold 110,408 shares, netting a total of over 8,329,639 in proceeds. Following the sale of shares at $75.44 each, the insider now holds 0 shares.
Before that, Huffman Steve Ladd had sold 14,000 shares from its account. In a trade valued at $1,056,056, the CEO & President traded Reddit Inc. shares for $75.43 each. Upon closing the transaction, the insider’s holdings decreased to 14,000 shares, worth approximately $50.63 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 0.54%. Over the course of the year, Reddit Inc. shares have jumped approximately 54.00%. Nevertheless, trading volume fell to 4.08 million shares from 3.75 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 76.18, which, if violated, would cause prices to drop to 74.67. In the upper region, resistance lies at 79.66. The next price resistance is at 81.63. RSI (Relative Strength Index) is 65.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.14, which suggests the price will increase in the coming days. Percent R is at 29.30%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
