New Street Research Begins Coverage on Reddit (NYSE:RDDT)

New Street Research began coverage on shares of Reddit (NYSE:RDDT) in a report released on Tuesday, Marketbeat.com reports. The firm issued a neutral rating and a $54.00 target price on the stock.

Reddit Stock Performance

NYSE:RDDT opened at 49.32 on Tuesday. Reddit has a one year low of 45.05 and a one year high of 74.90.

Insiders Place Their Bets

In other news, CFO Andrew Vollero sold 71,765 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 2,318,009.50. Following the completion of the transaction, the chief financial officer now owns 681,660 shares in the company, valued at 22,017,618. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 5,975,500.00. Following the completion of the transaction, the chief technology officer now owns 413,684 shares in the company, valued at 13,361,993.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andrew Vollero sold 71,765 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 681,660 shares of the company’s stock, 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 worth $35,038,975.

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.