Reddit (NYSE:RDDT) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Reddit (NYSE:RDDT) in a report published on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $47.00 price target on the stock.

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

Reddit Trading Down 5.4 %

Reddit stock opened at 40.00 on Monday. Reddit has a twelve month low of 39.68 and a twelve month high of 74.90.

Insider Buying and Selling at Reddit

In other Reddit news, CFO Andrew Vollero sold 71,765 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 2,318,009.50. Following the completion of the sale, the chief financial officer now owns 681,660 shares in the company, valued at 22,017,618. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Andrew Vollero sold 71,765 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 2,318,009.50. Following the transaction, the chief financial officer now directly owns 681,660 shares of the company’s stock, valued at 22,017,618. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Habiger acquired 3,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was 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 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 a total of 1,084,798 shares of company stock worth $35,038,975 over the last quarter.

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.