Reddit, Inc. (NYSE:RDDT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Reddit, Inc. (NYSE:RDDT) have received an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company.

A number of equities research analysts have recently issued reports on the stock. JMP Securities assumed coverage on shares of Reddit in a research report on Monday. They set an “outperform” rating and a $53.00 price target for the company. Raymond James assumed coverage on shares of Reddit in a research report on Monday. They set a “strong-buy” rating and a $50.00 price target for the company. Roth Mkm assumed coverage on shares of Reddit in a research report on Monday. They set a “buy” rating and a $50.00 price target for the company. Bank of America assumed coverage on shares of Reddit in a research report on Tuesday. They set a “neutral” rating and a $46.00 price target for the company. Finally, Sanford C. Bernstein began coverage on shares of Reddit in a research report on Thursday, April 4th. They set an “underperform” rating and a $40.00 price target for the company.

Insiders Place Their Bets

In other Reddit news, CAO Michelle Marie Reynolds sold 3,033 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 value of 97,965.90. Following the transaction, the chief accounting officer now owns 96,413 shares in the company, valued at approximately 3,114,139.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michelle Marie Reynolds sold 3,033 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of 32.30, for a total value of 97,965.90. Following the sale, the chief accounting officer now owns 96,413 shares in the company, valued at approximately 3,114,139.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David C. Habiger bought 3,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was bought at an average price of 34.00 per share, for a total transaction of 102,000.00. Following the purchase, the director now owns 24,906 shares in the company, valued at approximately 846,804. The disclosure for this purchase can be found here. Insiders have sold 1,084,798 shares of company stock worth $35,038,975 in the last quarter.

Institutional Investors Weigh In On Reddit

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC bought a new position in Reddit, Inc. (NYSE:RDDT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,664 shares of the company’s stock, valued at approximately $279,000.

Reddit Stock Down 4.8 %

Shares of RDDT opened at 39.17 on Monday. Reddit has a twelve month low of 38.70 and a twelve month high of 74.90.

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.