Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Reddit Inc shares valued at $19,457,765 were sold by Huffman Steve Ladd on Dec 16 ’24. At $176.24 per share, Huffman Steve Ladd sold 110,408 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Huffman Steve Ladd sold 14,000 shares, netting a total of over 2,466,810 in proceeds. Following the sale of shares at $176.20 each, the insider now holds 620,971 shares.
Before that, Wong Jennifer L. had sold 33,333 shares from its account. In a trade valued at $5,874,438, the Chief Operating Officer traded Reddit Inc shares for $176.23 each. Upon closing the transaction, the insider’s holdings decreased to 33,333 shares, worth approximately $246.28 million.
As published in their initiating research note from Wells Fargo on December 11, 2024, Reddit Inc [RDDT] has been an Overweight and the price target has been revised to $206. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in early December. As of October 09, 2024, Jefferies has initiated its “Buy” rating for RDDT. Earlier on September 20, 2024, B. Riley Securities initiated 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 0.13%. Over the course of the year, Reddit Inc shares have jumped approximately 224.58%. Nevertheless, trading volume fell to 4.75 million shares from 7.74 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 158.43, which, if violated, would cause prices to drop to 153.13. In the upper region, resistance lies at 167.81. The next price resistance is at 171.89. RSI (Relative Strength Index) is 59.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.10, which suggests the price will increase in the coming days. Percent R is at 40.53%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
