Reddit (NYSE:RDDT) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Reddit (NYSE:RDDT) in a report released on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $50.00 price target on the stock.

A number of other analysts have also recently weighed in on RDDT. Citigroup assumed coverage on shares of Reddit in a report on Monday. They issued a “buy” rating and a $53.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Reddit in a research note on Monday. They issued a “neutral” rating and a $47.00 target price for the company. Roth Mkm assumed coverage on shares of Reddit in a research note on Monday. They issued a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group started coverage on shares of Reddit in a research note on Monday. They issued a “neutral” rating and a $40.00 target price for the company. Finally, Loop Capital started coverage on shares of Reddit in a research note on Monday. They set a “buy” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of 49.20.

Reddit Price Performance

NYSE:RDDT opened at 40.00 on Tuesday. Reddit has a fifty-two week low of 39.68 and a fifty-two week high of 74.90.

Insider Buying and Selling

In related news, CFO Andrew Vollero sold 71,765 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 2,318,009.50. Following the completion of the sale, the chief financial officer now owns 681,660 shares of the company’s stock, valued at approximately 22,017,618. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 5,975,500.00. Following the transaction, the chief technology officer now owns 413,684 shares of the company’s stock, valued at approximately 13,361,993.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Vollero sold 71,765 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 2,318,009.50. Following the transaction, the chief financial officer now directly owns 681,660 shares in the company, valued at approximately 22,017,618. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,084,798 shares of company stock valued at $35,038,975.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,664 shares of the company’s stock, valued at approximately $279,000.

Reddit Company Profile

Reddit, Inc operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California.