Reddit (NYSE:RDDT) Receives New Coverage from Analysts at Roth Mkm

Roth Mkm began coverage on shares of Reddit (NYSE:RDDT) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $50.00 target price on the stock.

A number of other research firms have also issued reports on RDDT. Robert W. Baird assumed coverage on Reddit in a report on Thursday, April 4th. They set a neutral rating and a $50.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Reddit in a research report on Thursday, April 4th. They issued an underperform rating and a $40.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Reddit in a research report on Monday. They issued a neutral rating and a $47.00 price objective for the company. New Street Research initiated coverage on shares of Reddit in a research report on Tuesday, March 26th. They issued a neutral rating and a $54.00 price objective for the company. Finally, Needham & Company LLC initiated coverage on shares of Reddit in a research report on Monday. They set a buy rating and a $55.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Reddit has a consensus rating of Moderate Buy and an average target price of 49.20.

Reddit Stock Up 6.5 %

NYSE RDDT opened at 41.72 on Monday. Reddit has a 52-week low of 37.35 and a 52-week high of 74.90.

Insider Activity at Reddit

In other Reddit news, Director David C. Habiger bought 3,000 shares of Reddit stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of 34.00 per share, for a total transaction of 102,000.00. Following the acquisition, the director now owns 24,906 shares of the company’s stock, valued at approximately 846,804. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Reddit news, CAO Michelle Marie Reynolds sold 3,033 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 97,965.90. Following the transaction, the chief accounting officer now owns 96,413 shares in the company, valued at approximately 3,114,139.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Habiger acquired 3,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was purchased at an average price of 34.00 per share, for a total transaction of 102,000.00. Following the acquisition, the director now directly owns 24,906 shares in the company, valued at 846,804. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,084,798 shares of company stock worth $35,038,975.

Institutional Investors Weigh In On Reddit

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC bought a new stake in Reddit, Inc. (NYSE:RDDT) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 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.