Reddit (NYSE:RDDT) Now Covered by Analysts at Citigroup

Citigroup started coverage on shares of Reddit (NYSE:RDDT) in a research report report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $53.00 price target on the stock.

A number of other equities research analysts have also issued reports on the company. Robert W. Baird assumed coverage on Reddit in a research note on Thursday, April 4th. They issued a neutral rating and a $50.00 price target for the company. Piper Sandler assumed coverage on Reddit in a research note on Monday. They issued an overweight rating and a $50.00 price target for the company. Roth Mkm assumed coverage on Reddit in a research note on Monday. They issued a buy rating and a $50.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Reddit in a research note on Monday. They issued a neutral rating and a $47.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Reddit in a research note on Monday. They issued a neutral rating and a $40.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Reddit presently has an average rating of Moderate Buy and a consensus price target of 49.20.

Reddit Stock Up 6.5 %

RDDT opened at 41.72 on Monday. Reddit has a 1-year low of 37.35 and a 1-year high of 74.90.

Insider Activity at Reddit

In related news, CTO Christopher Brian Slowe sold 185,000 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 5,975,500.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Michelle Marie Reynolds sold 3,033 shares of the business’s 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 97,965.90. Following the completion of the transaction, the chief accounting officer now owns 96,413 shares of the company’s stock, valued at 3,114,139.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief technology officer now directly owns 413,684 shares of the company’s stock, valued at approximately 13,361,993.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,084,798 shares of company stock valued at $35,038,975.

Hedge Funds Weigh In On Reddit

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC purchased a new stake in Reddit, Inc. (NYSE:RDDT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.