Roth Mkm Begins Coverage on Reddit (NYSE:RDDT)

Roth Mkm assumed coverage on shares of Reddit (NYSE:RDDT) in a research note issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $50.00 price target on the stock.

A number of other equities analysts have also recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Reddit in a research note on Thursday, April 4th. They issued an “underperform” rating and a $40.00 price objective for the company. 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 objective on the stock. JPMorgan Chase & Co. began coverage on Reddit in a report on Monday. They issued a “neutral” rating and a $47.00 target price for the company. New Street Research assumed coverage on Reddit in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $54.00 price target for the company. Finally, Needham & Company LLC assumed coverage on shares of Reddit in a research note on Monday. They set a “buy” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of 49.38.

Reddit Price Performance

NYSE RDDT opened at 42.27 on Monday. Reddit has a one year low of 41.72 and a one year high of 74.90.

Insider Activity at Reddit

In related news, Director David C. Habiger bought 3,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of 34.00 per share, for a total transaction of 102,000.00. Following the purchase, the director now directly owns 24,906 shares of the company’s stock, valued at 846,804. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the firm’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 5,975,500.00. Following the transaction, the chief technology officer now owns 413,684 shares in the company, valued at 13,361,993.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David C. Habiger acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of 34.00 per share, with a total value of 102,000.00. Following the completion of the acquisition, the director now directly owns 24,906 shares of the company’s stock, valued at 846,804. The disclosure for this purchase can be found here. Insiders sold 1,084,798 shares of company stock worth $35,038,975 in the last 90 days.

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.