The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Reddit Inc shares valued at $1,868,375 were sold by Slowe Christopher Brian on Dec 23 ’24. At $169.85 per share, Slowe Christopher Brian sold 11,000 shares. The insider’s holdings dropped to 324,837 shares worth approximately $53.09 million following the completion of this transaction.
Also, Slowe Christopher Brian sold 5,000 shares, netting a total of over 849,120 in proceeds. Following the sale of shares at $169.82 each, the insider now holds 20,068 shares.
Before that, Huffman Steve Ladd had sold 110,408 shares from its account. In a trade valued at $19,457,765, the CEO & President traded Reddit Inc shares for $176.24 each. Upon closing the transaction, the insider’s holdings decreased to 110,408 shares, worth approximately $0.0.
As published in their initiating research note from Guggenheim on December 20, 2024, Reddit Inc [RDDT] has been a Buy and the price target has been revised to $210. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid December. As of December 09, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for RDDT. Earlier on October 09, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for RDDT stock.
Analyzing RDDT Stock Performance
During the last five days, there has been a drop of approximately -3.07%. Over the course of the year, Reddit Inc shares have jumped approximately 224.03%. Nevertheless, trading volume fell to 3.01 million shares from 2.54 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 161.49, which, if violated, would cause prices to drop to 159.55. In the upper region, resistance lies at 166.53. The next price resistance is at 169.62. RSI (Relative Strength Index) is 54.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.73, which suggests the price will decrease in the coming days. Percent R is at 75.10%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
