Reddit stock slips late as insider sales hit the tape and Evercore opens at $320
Reddit shares fell 2.5% in after-hours trading Wednesday, closing at $252.38. Evercore ISI initiated coverage with an Outperform rating and a $320 target, while Morgan Stanley raised its target to $265. CFO Andrew Vollero sold nearly 4,000 shares last week under a prearranged plan, leaving him with 251,644 shares.