Reddit Inc’s recently made public that its Chief Operating Officer Wong Jennifer L. unloaded Company’s shares for reported $5.8 million on Jan 16 ’25. In the deal valued at $173.93 per share,33,334 shares were sold. As a result of this transaction, Wong Jennifer L. now holds 1,504,297 shares worth roughly $283.29 million.
Then, Huffman Steve Ladd sold 110,408 shares, generating $19,073,065 in total proceeds. Upon selling the shares at $172.75, the CEO & President now owns 0 shares.
Before that, Huffman Steve Ladd sold 14,000 shares. Reddit Inc shares valued at $2,419,030 were divested by the CEO & President at a price of $172.79 per share. As a result of the transaction, Huffman Steve Ladd now holds 614,394 shares, worth roughly $115.7 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 Tuesday, Reddit Inc [NYSE:RDDT] saw its stock jump 7.41% to $188.32. Over the last five days, the stock has gained 14.38%. Reddit Inc shares have risen nearly 15.22% since the year began. SMA at 50 days reached $156.52, while 200 days put it at $85.54.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 178.95, which if violated will result in even more drops to 169.57. On the upside, there is a resistance level at 194.35. A further resistance level may holdings at 200.37. The Relative Strength Index (RSI) on the 14-day chart is 66.53, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.66%. Stochastics %K at 71.41% 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 2024-12-31, growing by 4.03 million shares to a total of 18.25 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-29 was 14.22 million shares. There was a rise of 22.09%, 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.
