Reddit Inc’s filing revealed that its CEO & President Huffman Steve Ladd unloaded Company’s shares for reported $2.31 million on Dec 31 ’24. In the deal valued at $165.33 per share,14,000 shares were sold. As a result of this transaction, Huffman Steve Ladd now holds 614,394 shares worth roughly $102.65 million.
Then, Slowe Christopher Brian sold 11,000 shares, generating $1,868,375 in total proceeds. Upon selling the shares at $169.85, the Chief Technology Officer now owns 324,837 shares.
Before that, Slowe Christopher Brian sold 5,000 shares. Reddit Inc shares valued at $849,120 were divested by the Chief Technology Officer at a price of $169.82 per share. As a result of the transaction, Slowe Christopher Brian now holds 20,068 shares, worth roughly $3.35 million.
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 -2.87% to $167.08. Over the last five days, the stock has gained 0.71%. Reddit Inc shares have risen nearly 2.23% since the year began. SMA at 50 days reached $148.98, while 200 days put it at $81.92.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 161.35, which if violated will result in even more drops to 155.63. On the upside, there is a resistance level at 171.25. A further resistance level may holdings at 175.43. The Relative Strength Index (RSI) on the 14-day chart is 53.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.11%. Stochastics %K at 45.27% 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 2024-12-13, 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.
