Deutsche Bank Aktiengesellschaft Begins Coverage on Reddit (NYSE:RDDT)

Deutsche Bank Aktiengesellschaft began coverage on shares of Reddit (NYSE:RDDT) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $50.00 target price on the stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group began coverage on Reddit in a research report on Monday, April 15th. They issued a neutral rating and a $40.00 target price for the company. Robert W. Baird started coverage on shares of Reddit in a research report on Thursday, April 4th. They set a neutral rating and a $50.00 price objective on the stock. JMP Securities assumed coverage on shares of Reddit in a research note on Monday, April 15th. They issued an outperform rating and a $53.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Reddit in a research note on Monday, April 15th. They set a neutral rating and a $47.00 target price for the company. Finally, Sanford C. Bernstein began coverage on Reddit in a research report on Thursday, April 4th. They issued an underperform rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of 49.20.

Reddit Stock Down 2.0 %

NYSE RDDT opened at 40.88 on Tuesday. Reddit has a 12 month low of 37.35 and a 12 month high of 74.90.

Insider Activity

In related news, CEO Steve Ladd Huffman sold 500,000 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 710,306 shares of the company’s stock, valued at 22,942,883.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of 32.30, for a total transaction of 5,975,500.00. Following the sale, the chief technology officer now owns 413,684 shares of the company’s stock, valued at approximately 13,361,993.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steve Ladd Huffman sold 500,000 shares of the company’s 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 16,150,000.00. Following the completion of the sale, the chief executive officer now owns 710,306 shares in the company, valued at approximately 22,942,883.80. The disclosure for this sale can be found here. Insiders sold 1,084,798 shares of company stock valued at $35,038,975 in the last three months.

Hedge Funds Weigh In On Reddit

A hedge fund recently bought a new stake in Reddit stock. Congress Park Capital LLC purchased a new position in shares of Reddit, Inc. (NYSE:RDDT) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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.