Trade Desk (NASDAQ:TTD) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research report sent to investors on Friday.

A number of other analysts have also recently issued reports on TTD. BTIG Research increased their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company started coverage on shares of Trade Desk in a research note on Monday, October 28th. They set an “overweight” rating and a $150.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target (up from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Finally, Robert W. Baird raised their price target on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Stock Performance

NASDAQ TTD opened at $129.70 on Friday. The business has a 50 day simple moving average of $116.90 and a 200 day simple moving average of $103.48. Trade Desk has a 52-week low of $61.47 and a 52-week high of $132.65. The stock has a market cap of $64.02 billion, a price-to-earnings ratio of 212.62, a PEG ratio of 5.77 and a beta of 1.47.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The trade was a 42.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,412,367 shares of company stock valued at $155,067,356. 9.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venture Visionary Partners LLC grew its position in Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares during the last quarter. Ithaka Group LLC grew its position in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares during the last quarter. Assetmark Inc. grew its position in Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the last quarter. Swiss National Bank grew its position in Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Trade Desk by 5.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock valued at $9,179,000 after acquiring an additional 5,148 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.