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

Deutsche Bank Aktiengesellschaft started coverage on shares of Reddit (NYSE:RDDT) in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC started coverage on Reddit in a report on Monday. They set a buy rating and a $55.00 price target on the stock. Sanford C. Bernstein started coverage on Reddit in a report on Thursday, April 4th. They set an underperform rating and a $40.00 price target on the stock. JMP Securities started coverage on Reddit in a report on Monday. They issued an outperform rating and a $53.00 target price on the stock. Robert W. Baird started coverage on Reddit in a report on Thursday, April 4th. They issued a neutral rating and a $50.00 target price on the stock. Finally, Citigroup started coverage on Reddit in a report on Monday. They issued a buy rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of 49.20.

Reddit Price Performance

Reddit stock opened at 41.14 on Tuesday. Reddit has a 52-week low of 39.32 and a 52-week high of 74.90.

Insider Activity at Reddit

In related news, CEO Steve Ladd Huffman sold 500,000 shares of the stock in a transaction 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 directly owns 710,306 shares of the company’s stock, valued at approximately 22,942,883.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Reddit news, Director David C. Habiger bought 3,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of 34.00 per share, with a total value of 102,000.00. Following the transaction, the director now directly 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 the SEC website. Also, CEO Steve Ladd Huffman sold 500,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 710,306 shares of the company’s stock, valued at 22,942,883.80. The disclosure for this sale can be found here. In the last three months, insiders sold 1,084,798 shares of company stock valued at $35,038,975.

Institutional Investors Weigh In On 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) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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.