Roth Mkm Begins Coverage on Reddit (NYSE:RDDT)

Roth Mkm began coverage on shares of Reddit (NYSE:RDDT) in a research report report published on Monday, MarketBeat reports. The firm issued a buy rating and a $50.00 price target on the stock.

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

Reddit Stock Performance

RDDT opened at 39.17 on Monday. Reddit has a 1 year low of 38.70 and a 1 year high of 74.90.

Insider Transactions at Reddit

In other news, CTO Christopher Brian Slowe sold 185,000 shares of the company’s stock in a transaction that occurred on 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 directly 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 link. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the company’s stock in a transaction that occurred on 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 directly 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 link. Also, Director David C. Habiger bought 3,000 shares of Reddit stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of 34.00 per share, with a total value of 102,000.00. Following the completion of the purchase, the director now owns 24,906 shares in the company, valued at 846,804. The disclosure for this purchase can be found here. Insiders sold a total of 1,084,798 shares of company stock valued at $35,038,975 in the last three months.

Institutional Trading of Reddit

A hedge fund recently bought a new stake in Reddit stock. Congress Park Capital LLC purchased a new position in shares of Reddit, Inc. (NYSE:RDDT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,664 shares of the company’s stock, valued at approximately $279,000.

About Reddit

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.