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 $2,827,506 were sold by Huffman Steve Ladd on Jan 31 ’25. At $201.96 per share, Huffman Steve Ladd sold 14,000 shares. The insider’s holdings dropped to 614,394 shares worth approximately $135.88 million following the completion of this transaction.
Also, Slowe Christopher Brian sold 11,000 shares, netting a total of over 2,025,259 in proceeds. Following the sale of shares at $184.11 each, the insider now holds 311,381 shares.
Before that, Slowe Christopher Brian had sold 5,000 shares from its account. In a trade valued at $920,772, the Chief Technology Officer traded Reddit Inc shares for $184.15 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $7.8 million.
As published in a research note from ROTH MKM on January 22, 2025, Reddit Inc [RDDT] has been rated down from a Buy to a Neutral and the price target has been revised to $195 from $116. Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid December. As of December 11, 2024, Wells Fargo has initiated its “an Overweight” rating for RDDT. Earlier on December 09, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Overweight” for RDDT stock which previously was a “an Equal-weight”.
Analyzing RDDT Stock Performance
During the last five days, there has been a surge of approximately 9.49%. Over the course of the year, Reddit Inc shares have jumped approximately 35.32%. A 50-day SMA is recorded $171.06, while a 200-day SMA reached $93.98. Nevertheless, trading volume fell to 3.55 million shares from 5.51 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 214.38, which, if violated, would cause prices to drop to 207.60. In the upper region, resistance lies at 224.56. The next price resistance is at 227.96. RSI (Relative Strength Index) is 76.94 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 19.96, which suggests the price will increase in the coming days. Percent R is at 0.04%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
