Reddit Inc’s recent filing unveils that its Chief Technology Officer Slowe Christopher Brian unloaded Company’s shares for reported $1.87 million on Dec 23 ’24. In the deal valued at $169.85 per share,11,000 shares were sold. As a result of this transaction, Slowe Christopher Brian now holds 324,837 shares worth roughly $56.37 million.
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Then, Slowe Christopher Brian sold 5,000 shares, generating $849,120 in total proceeds. Upon selling the shares at $169.82, the Chief Technology Officer now owns 20,068 shares.
Before that, Huffman Steve Ladd sold 110,408 shares. Reddit Inc shares valued at $19,457,765 were divested by the CEO & President at a price of $176.24 per share. As a result of the transaction, Huffman Steve Ladd now holds 0 shares, worth roughly $0.0.
Guggenheim initiated its Reddit Inc [RDDT] rating to a Buy in a research note published on December 20, 2024; the price target was $210. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid December with a ‘”an Overweight”‘ rating. Morgan Stanley also remained covering RDDT and has increased its forecast on December 09, 2024 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Jefferies started covering the stock on October 09, 2024. It rated RDDT as “a Buy”.
Price Performance Review of RDDT
On Friday, Reddit Inc [NYSE:RDDT] saw its stock fall -1.81% to $173.54. Over the last five days, the stock has gained 6.00%. Reddit Inc shares have risen nearly 244.05% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 168.72, which if violated will result in even more drops to 163.89. On the upside, there is a resistance level at 177.45. A further resistance level may holdings at 181.35. The Relative Strength Index (RSI) on the 14-day chart is 61.85, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 28.45%. Stochastics %K at 81.45% 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 2024-12-13, growing by 7.9 million shares to a total of 16.18 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 8.29 million shares. There was a rise of 48.79%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on September 20, 2024 when B. Riley Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $75 price target.
