Reddit (NYSE:RDDT) Now Covered by Loop Capital

Loop Capital assumed coverage on shares of Reddit (NYSE:RDDT) in a research note issued to investors on Monday, Briefing.com reports. The firm set a “buy” rating and a $55.00 price target on the stock.

A number of other equities analysts have also issued reports on the company. Sanford C. Bernstein initiated coverage on Reddit in a report on Thursday, April 4th. They set an “underperform” rating and a $40.00 price target on the stock. Roth Mkm assumed coverage on Reddit in a research note on Monday. They issued a “buy” rating and a $50.00 target price on the stock. Robert W. Baird began coverage on Reddit in a research note on Thursday, April 4th. They set a “neutral” rating and a $50.00 price target for the company. JPMorgan Chase & Co. began coverage on Reddit in a report on Monday. They set a “neutral” rating and a $47.00 price target for the company. Finally, Morgan Stanley initiated coverage on shares of Reddit in a research report on Monday. 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, five have assigned a hold rating, six have assigned 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 an average price target of 49.38.

Reddit Trading Down 5.1 %

Shares of Reddit stock opened at 42.27 on Monday. Reddit has a 1 year low of 41.72 and a 1 year high of 74.90.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 185,000 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 5,975,500.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the business’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 sale, the chief technology officer now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 500,000 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 value of 16,150,000.00. Following the completion of the sale, the chief executive officer now owns 710,306 shares in the company, valued at approximately 22,942,883.80. 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 in the last ninety days.

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.