Reddit Inc’s filing revealed that its Officer ANDREW VOLLERO acquired Company’s shares for reported $2.91 million on Nov 25 ’24. In the deal valued at $146.67 per share,19,838 shares were bought.
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Then, Slowe Christopher Brian sold 21,000 shares, generating $3,066,170 in total proceeds. Upon selling the shares at $146.01, the Chief Technology Officer now owns 297,925 shares.
Before that, Slowe Christopher Brian sold 5,000 shares. Reddit Inc shares valued at $729,993 were divested by the Chief Technology Officer at a price of $146.00 per share. As a result of the transaction, Slowe Christopher Brian now holds 25,068 shares, worth roughly $3.56 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 -3.25% to $141.90. Over the last five days, the stock has gained 9.64%. Reddit Inc shares have risen nearly 181.32% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 136.70, which if violated will result in even more drops to 131.50. On the upside, there is a resistance level at 149.62. A further resistance level may holdings at 157.34. The Relative Strength Index (RSI) on the 14-day chart is 64.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 14.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 40.14%. Stochastics %K at 78.13% indicates the stock is a holding.
How much short interest is there in Reddit Inc?
A steep rise in short interest was recorded in Reddit Inc stocks on 2024-10-31, growing by 0.64 million shares to a total of 7.75 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.11 million shares. There was a rise of 8.23%, which implies that there is a positive sentiment for the stock.
