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 $572,000 were sold by Gale Mary Porter on Nov 01 ’24. At $114.40 per share, Gale Mary Porter sold 5,000 shares. The insider’s holdings dropped to 46,459 shares worth approximately $6.11 million following the completion of this transaction.
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Also, Huffman Steve Ladd sold 14,000 shares, netting a total of over 1,583,878 in proceeds. Following the sale of shares at $113.13 each, the insider now holds 651,775 shares.
Before that, Seibel Michael had sold 50,000 shares from its account. In a trade valued at $5,563,484, the Director traded Reddit Inc shares for $111.27 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $0.67 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 10.18%. Over the course of the year, Reddit Inc shares have jumped approximately 160.59%. Nevertheless, trading volume fell to 7.7 million shares from 6.51 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 124.26, which, if violated, would cause prices to drop to 117.07. In the upper region, resistance lies at 135.94. The next price resistance is at 140.43. RSI (Relative Strength Index) is 80.53 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 25.93, which suggests the price will increase in the coming days. Percent R is at 3.19%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
