Recent Investment Analysts’ Ratings Changes for Reddit (RDDT)

Several analysts have recently updated their ratings and price targets for Reddit (NYSE: RDDT):

• 4/16/2024 – Reddit is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $46.00 price target on the stock.
• 4/16/2024 – Reddit is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $50.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Raymond James. They set a “strong-buy” rating and a $50.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $50.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at JMP Securities. They set an “outperform” rating and a $53.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $40.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at JPMorgan Chase & Co.. They set a “neutral” rating and a $47.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $45.00 price target on the stock.
• 4/15/2024 – Reddit had its “buy” rating reaffirmed by analysts at Roth Capital.
• 4/15/2024 – Reddit is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $53.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Loop Capital. They set a “buy” rating and a $55.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Roth Mkm. They set a “buy” rating and a $50.00 price target on the stock.
• 4/15/2024 – Reddit is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $55.00 price target on the stock.
• 4/4/2024 – Reddit is now covered by analysts at Sanford C. Bernstein. They set an “underperform” rating and a $40.00 price target on the stock.
• 4/4/2024 – Reddit is now covered by analysts at Robert W. Baird. They set a “neutral” rating and a $50.00 price target on the stock.
• 3/26/2024 – Reddit is now covered by analysts at New Street Research. They set a “neutral” rating and a $54.00 price target on the stock.

Reddit Stock Performance

NYSE RDDT traded up 1.16 during trading hours on Monday, hitting 42.04. The company had a trading volume of 1,483,400 shares, compared to its average volume of 8,150,019. Reddit, Inc. has a 1-year low of 37.35 and a 1-year high of 74.90.

Insider Activity

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 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 13,361,993.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Christopher Brian Slowe sold 185,000 shares of the 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 5,975,500.00. Following the sale, the chief technology officer now directly owns 413,684 shares in the company, valued at 13,361,993.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michelle Marie Reynolds sold 3,033 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of 32.30, for a total transaction of 97,965.90. Following the completion of the sale, the chief accounting officer now owns 96,413 shares in the company, valued at 3,114,139.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,084,798 shares of company stock valued at $35,038,975.

Institutional Trading of Reddit

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

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.