Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Reddit Inc shares valued at $2,841,286 were sold by Vollero Andrew on Nov 25 ’24. At $143.22 per share, Vollero Andrew sold 19,838 shares. The insider’s holdings dropped to 703,615 shares worth approximately $98.53 million following the completion of this transaction.
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Also, ANDREW VOLLERO purchased 19,838 shares, netting a total of over 2,909,639 in proceeds.
Before that, Slowe Christopher Brian had sold 21,000 shares from its account. In a trade valued at $3,066,170, the Chief Technology Officer traded Reddit Inc shares for $146.01 each. Upon closing the transaction, the insider’s holdings decreased to 21,000 shares, worth approximately $41.72 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 2.77%. Over the course of the year, Reddit Inc shares have jumped approximately 177.64%. Nevertheless, trading volume fell to 5.24 million shares from 8.39 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 135.93, which, if violated, would cause prices to drop to 131.82. In the upper region, resistance lies at 142.67. The next price resistance is at 145.30. RSI (Relative Strength Index) is 62.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.07, which suggests the price will increase in the coming days. Percent R is at 52.19%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
