Reddit (NYSE:RDDT) Now Covered by Analysts at Roth Mkm

Roth Mkm began coverage on shares of Reddit (NYSE:RDDT) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $50.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. New Street Research began coverage on Reddit in a report on Tuesday, March 26th. They issued a neutral rating and a $54.00 price target on the stock. Sanford C. Bernstein began coverage on Reddit in a report on Thursday, April 4th. They issued an underperform rating and a $40.00 price target on the stock. JPMorgan Chase & Co. began coverage on Reddit in a report on Monday. They issued a neutral rating and a $47.00 price target on the stock. Needham & Company LLC began coverage on Reddit in a report on Monday. They issued a buy rating and a $55.00 price target on the stock. Finally, Robert W. Baird began coverage on Reddit in a report on Thursday, April 4th. They issued a neutral rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of 49.38.

Reddit Stock Down 5.4 %

Shares of NYSE:RDDT opened at 40.00 on Monday. Reddit has a twelve month low of 39.68 and a twelve month high of 74.90.

Insider Transactions at Reddit

In other news, CEO Steve Ladd Huffman sold 500,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 16,150,000.00. Following the sale, the chief executive officer now owns 710,306 shares of the company’s stock, valued at 22,942,883.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Michelle Marie Reynolds sold 3,033 shares of Reddit 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 97,965.90. Following the sale, the chief accounting officer now owns 96,413 shares of the company’s stock, valued at approximately 3,114,139.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steve Ladd Huffman sold 500,000 shares of Reddit stock in a transaction that occurred on Monday, March 25th. The shares were 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 directly 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 over the last 90 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.