Reddit Inc’s recent filing unveils that its Director Gale Mary Porter unloaded Company’s shares for reported $0.57 million on Nov 01 ’24. In the deal valued at $114.40 per share,5,000 shares were sold. As a result of this transaction, Gale Mary Porter now holds 46,459 shares worth roughly $6.0 million.
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Then, Huffman Steve Ladd sold 14,000 shares, generating $1,583,878 in total proceeds. Upon selling the shares at $113.13, the CEO & President now owns 651,775 shares.
Before that, Seibel Michael sold 50,000 shares. Reddit Inc shares valued at $5,563,484 were divested by the Director at a price of $111.27 per share. As a result of the transaction, Seibel Michael now holds 5,128 shares, worth roughly $0.66 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 Monday, Reddit Inc [NYSE:RDDT] saw its stock fall -4.13% to $129.23. Over the last five days, the stock has gained 18.53%. Reddit Inc shares have risen nearly 156.21% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 125.34, which if violated will result in even more drops to 121.45. On the upside, there is a resistance level at 136.08. A further resistance level may holdings at 142.93. The Relative Strength Index (RSI) on the 14-day chart is 74.86, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 25.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.72%. Stochastics %K at 93.69% 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 2024-10-15, growing by 1.88 million shares to a total of 7.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 5.23 million shares. There was a rise of 26.49%, which implies that there is a positive sentiment for the stock.
