Reddit (NYSE:RDDT) Now Covered by Loop Capital

Loop Capital assumed coverage on shares of Reddit (NYSE:RDDT) in a report published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $55.00 price target on the stock.

Other equities research analysts have also issued reports about the company. JMP Securities started coverage on Reddit in a research report on Monday. They set an outperform rating and a $53.00 price target on the stock. Robert W. Baird began coverage on Reddit in a report on Thursday, April 4th. They issued a neutral rating and a $50.00 target price on the stock. Piper Sandler began coverage on Reddit in a report on Monday. They issued an overweight rating and a $50.00 target price on the stock. Roth Mkm began coverage on Reddit in a report on Monday. They issued a buy rating and a $50.00 target price on the stock. Finally, New Street Research began coverage on Reddit in a report on Tuesday, March 26th. They issued a neutral rating and a $54.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Reddit currently has a consensus rating of Moderate Buy and an average target price of 49.20.

Reddit Trading Up 6.5 %

NYSE RDDT opened at 41.72 on Monday. Reddit has a twelve month low of 37.35 and a twelve month high of 74.90.

Insider Transactions at Reddit

In related news, CTO Christopher Brian Slowe sold 185,000 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 5,975,500.00. Following the completion of the sale, the chief technology officer now owns 413,684 shares in the company, valued at 13,361,993.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Christopher Brian Slowe sold 185,000 shares of the company’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 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 Securities & Exchange Commission, which is available at this link. Also, Director David C. Habiger acquired 3,000 shares of the business’s 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 acquisition, the director now owns 24,906 shares in the company, valued at 846,804. The disclosure for this purchase can be found here. Insiders sold 1,084,798 shares of company stock worth $35,038,975 over the last quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Reddit stock. Congress Park Capital LLC acquired a new position in Reddit, Inc. (NYSE:RDDT) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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.