Reddit (NYSE:RDDT) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

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

RDDT has been the topic of several other reports. Sanford C. Bernstein started coverage on Reddit in a research note on Thursday, April 4th. They issued an underperform rating and a $40.00 target price on the stock. New Street Research began coverage on Reddit in a research note on Tuesday, March 26th. They set a neutral rating and a $54.00 price objective on the stock. Morgan Stanley began coverage on Reddit in a research note on Monday. They set an equal weight rating and a $45.00 price objective on the stock. Needham & Company LLC began coverage on Reddit in a research note on Monday. They set a buy rating and a $55.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Reddit in a research note on Monday. They set a neutral rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of 49.20.

Reddit Trading Up 6.5 %

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

Insider Transactions at Reddit

In other news, Director David C. Habiger acquired 3,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of 34.00 per share, for a total transaction of 102,000.00. Following the acquisition, the director now owns 24,906 shares of the company’s stock, valued at 846,804. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director David C. Habiger bought 3,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 24,906 shares of the company’s stock, valued at approximately 846,804. The acquisition 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 stock in a transaction dated 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 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 worth $35,038,975.

Institutional Investors Weigh In On Reddit

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC purchased a new stake in shares of Reddit, Inc. (NYSE:RDDT) in the first quarter, according to the company in its most recent disclosure with the 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.