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

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

Other research analysts have also issued research reports about the stock. Citigroup began coverage on shares of Reddit in a research note on Monday. They issued a buy rating and a $53.00 price target on the stock. Morgan Stanley began coverage on shares of Reddit in a research note on Monday. They issued an equal weight rating and a $45.00 price target on the stock. Piper Sandler began coverage on shares of Reddit in a research note on Monday. They issued an overweight rating and a $50.00 price target on the stock. New Street Research assumed coverage on shares of Reddit in a research note on Tuesday, March 26th. They issued a neutral rating and a $54.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Reddit in a report on Monday. They issued a neutral rating and a $47.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of 49.20.

Reddit Stock Up 2.9 %

Shares of RDDT opened at 41.14 on Tuesday. Reddit has a twelve month low of 39.32 and a twelve month high of 74.90.

Insider Buying and Selling

In related news, CTO Christopher Brian Slowe sold 185,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were 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 directly owns 413,684 shares in the company, valued at 13,361,993.20. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CTO Christopher Brian Slowe sold 185,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were 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 directly owns 413,684 shares in the company, valued at 13,361,993.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director David C. Habiger acquired 3,000 shares of Reddit stock in a transaction on Monday, March 25th. The shares were bought at an average cost of 34.00 per share, with a total value of 102,000.00. Following the completion of the transaction, the director now owns 24,906 shares of the company’s stock, valued at 846,804. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 1,084,798 shares of company stock worth $35,038,975.

Hedge Funds Weigh In On Reddit

A hedge fund recently bought a new stake in Reddit stock. Congress Park Capital LLC acquired a new position in shares of Reddit, Inc. (NYSE:RDDT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,664 shares of the company’s stock, valued at approximately $279,000.

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.