Reddit (NYSE:RDDT) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Reddit (NYSE:RDDT) in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $50.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird began coverage on shares of Reddit in a research report on Thursday, April 4th. They set a neutral rating and a $50.00 target price on the stock. Citigroup assumed coverage on shares of Reddit in a report on Monday, April 15th. They set a buy rating and a $53.00 price objective on the stock. JPMorgan Chase & Co. started coverage on Reddit in a report on Monday, April 15th. They set a neutral rating and a $47.00 target price for the company. Piper Sandler assumed coverage on Reddit in a report on Monday, April 15th. They issued an overweight rating and a $50.00 price target on the stock. Finally, Morgan Stanley started coverage on Reddit in a research note on Monday, April 15th. They set an equal weight rating and a $45.00 price objective 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 data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of 49.20.

Reddit Stock Performance

Reddit stock opened at 40.88 on Tuesday. Reddit has a fifty-two week low of 37.35 and a fifty-two week high of 74.90.

Insider Activity at Reddit

In other Reddit news, CAO Michelle Marie Reynolds sold 3,033 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 97,965.90. Following the sale, the chief accounting officer now owns 96,413 shares of the company’s stock, valued at approximately 3,114,139.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Reddit news, CAO Michelle Marie Reynolds sold 3,033 shares of Reddit stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 97,965.90. Following the completion of the sale, the chief accounting officer now owns 96,413 shares of the company’s stock, valued at approximately 3,114,139.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Christopher Brian Slowe sold 185,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 5,975,500.00. Following the completion of the transaction, the chief technology officer now directly owns 413,684 shares in the company, valued at 13,361,993.20. The disclosure for this sale can be found here. Insiders sold 1,084,798 shares of company stock valued at $35,038,975 in the last three months.

Hedge Funds Weigh In On Reddit

A hedge fund recently bought a new stake in Reddit stock. Congress Park Capital LLC bought a new position in shares of Reddit, Inc. (NYSE:RDDT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.