Reddit (NYSE:RDDT) Earns Buy Rating from Analysts at Roth Mkm

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

Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein started coverage on shares of Reddit in a research note on Thursday, April 4th. They issued an underperform rating and a $40.00 target price for the company. New Street Research initiated coverage on shares of Reddit in a research note on Tuesday, March 26th. They issued a neutral rating and a $54.00 target price for the company. 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. JPMorgan Chase & Co. initiated coverage on shares of Reddit in a research report on Monday. They set a neutral rating and a $47.00 price target for the company. Finally, Robert W. Baird initiated coverage on shares of Reddit in a research report on Thursday, April 4th. They set a neutral rating and a $50.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of 49.20.

Reddit Stock Up 6.5 %

Shares of NYSE RDDT opened at 41.72 on Monday. Reddit has a 1-year low of 37.35 and a 1-year high of 74.90.

Insider Transactions at Reddit

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

Hedge Funds Weigh In On Reddit

A hedge fund recently bought a new stake in Reddit stock. Congress Park Capital LLC bought a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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.