Reddit Inc’s recently made public that its Chief Technology Officer Slowe Christopher Brian unloaded Company’s shares for reported $2.03 million on Jan 22 ’25. In the deal valued at $184.11 per share,11,000 shares were sold. As a result of this transaction, Slowe Christopher Brian now holds 311,381 shares worth roughly $62.14 million.
Then, Slowe Christopher Brian sold 5,000 shares, generating $920,772 in total proceeds. Upon selling the shares at $184.15, the Chief Technology Officer now owns 35,252 shares.
Before that, SLOWE FAMILY TRUST bought 15,000 shares. Reddit Inc shares valued at $2,824,800 were divested by the Officer at a price of $188.32 per share.
ROTH MKM downgraded its Reddit Inc [RDDT] rating to a Neutral from a a Buy in a research note published on January 22, 2025; the price target was increased to $195 from $116. A number of analysts have revised their coverage, including Guggenheim’s analysts, who began to cover the stock in mid December with a ‘”a Buy”‘ rating. Wells Fargo began covering RDDT with “an Overweight” recommendation on December 11, 2024. Morgan Stanley revised its rating on December 09, 2024. It rated RDDT as “an Overweight” which previously was an “an Equal-weight”.
Price Performance Review of RDDT
On Friday, Reddit Inc [NYSE:RDDT] saw its stock jump 0.31% to $199.55. Over the last five days, the stock has gained 9.40%. Reddit Inc shares have risen nearly 22.09% since the year began. SMA at 50 days reached $166.34, while 200 days put it at $91.39.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 195.53, which if violated will result in even more drops to 191.52. On the upside, there is a resistance level at 205.08. A further resistance level may holdings at 210.62. The Relative Strength Index (RSI) on the 14-day chart is 67.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 17.10, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 17.43%. Stochastics %K at 85.55% 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 2025-01-15, growing by 2.37 million shares to a total of 18.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 16.18 million shares. There was a rise of 12.76%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 09, 2024 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $90 price target.
