Reddit (NYSE:RDDT) Now Covered by Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Reddit (NYSE:RDDT) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $50.00 price target on the stock.

A number of other research analysts also recently weighed in on the stock. Roth Mkm began coverage on shares of Reddit in a report on Monday. They set a “buy” rating and a $50.00 price target on the stock. Robert W. Baird began coverage on shares of Reddit in a report on Thursday, April 4th. They issued a “neutral” rating and a $50.00 target price on the stock. New Street Research began coverage on shares of Reddit in a report on Tuesday, March 26th. They issued a “neutral” rating and a $54.00 target price on the stock. JMP Securities began coverage on shares of Reddit in a report on Monday. They issued an “outperform” rating and a $53.00 target price on the stock. Finally, Citigroup began coverage on shares of Reddit in a report on Monday. They issued a “buy” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Reddit presently has a consensus rating of “Moderate Buy” and a consensus price target of 49.20.

Reddit Price Performance

Reddit stock opened at 39.17 on Tuesday. Reddit has a 1-year low of 38.70 and a 1-year high of 74.90.

Insider Transactions at Reddit

In related news, Director David C. Habiger acquired 3,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were bought at an average price of 34.00 per share, for a total transaction of 102,000.00. Following the acquisition, the director now owns 24,906 shares in the company, valued at approximately 846,804. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Andrew Vollero sold 71,765 shares of Reddit stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 2,318,009.50. Following the sale, the chief financial officer now directly owns 681,660 shares in the company, valued at approximately 22,017,618. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David C. Habiger bought 3,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price 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 approximately 846,804. The disclosure for this purchase can be found here. In the last 90 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 bought a new stake in shares of Reddit, Inc. (NYSE:RDDT) during the 1st quarter, according to its most recent filing with the SEC. The fund 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.