Roth Mkm Begins Coverage on Reddit (NYSE:RDDT)

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

RDDT has been the topic of a number of other research reports. 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. 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. New Street Research initiated coverage on Reddit in a research note on Tuesday, March 26th. They issued a neutral rating and a $54.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Reddit in a research note on Monday. They issued a neutral rating and a $47.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on Reddit in a research note on Thursday, April 4th. They issued an underperform rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of 49.20.

Reddit Price Performance

NYSE:RDDT opened at 39.17 on Monday. Reddit has a 52-week low of 38.70 and a 52-week high of 74.90.

Insiders Place Their Bets

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 stock was sold at an average price of 32.30, for a total transaction of 97,965.90. Following the sale, the chief accounting officer now directly owns 96,413 shares in the company, valued at 3,114,139.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director David C. Habiger bought 3,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were bought at an average cost of 34.00 per share, for a total transaction of 102,000.00. Following the completion of the transaction, the director now owns 24,906 shares in the company, valued at 846,804. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michelle Marie Reynolds sold 3,033 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of 32.30, for a total value of 97,965.90. Following the sale, 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. Over the last ninety days, insiders have sold 1,084,798 shares of company stock worth $35,038,975.

Institutional Trading of Reddit

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC acquired a new stake in Reddit, Inc. (NYSE:RDDT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.