Wolfe Research Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective upped by equities research analysts at Wolfe Research from $140.00 to $155.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wolfe Research’s price target points to a potential upside of 30.90% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus raised their target price on Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 14th. Scotiabank assumed coverage on shares of Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective on the stock. Wedbush reiterated an “outperform” rating and set a $135.00 price target on shares of Trade Desk in a research report on Thursday, December 19th. Evercore ISI boosted their price target on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, UBS Group raised their price objective on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.45.

Trade Desk Stock Up 0.6 %

Shares of NASDAQ:TTD opened at $118.41 on Friday. The firm’s 50-day simple moving average is $126.51 and its 200-day simple moving average is $110.93. Trade Desk has a fifty-two week low of $61.47 and a fifty-two week high of $141.53. The company has a market cap of $58.44 billion, a price-to-earnings ratio of 194.11, a PEG ratio of 6.00 and a beta of 1.43.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $112.30, for a total value of $22,460,000.00. Following the completion of the sale, the chief executive officer now owns 87,979 shares in the company, valued at approximately $9,880,041.70. This represents a 69.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,528 shares of company stock worth $37,031,290 over the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Trade Desk by 9.3% during the fourth quarter. GAMMA Investing LLC now owns 2,313 shares of the technology company’s stock valued at $272,000 after purchasing an additional 196 shares during the last quarter. Versant Capital Management Inc raised its stake in Trade Desk by 94.4% during the 4th quarter. Versant Capital Management Inc now owns 698 shares of the technology company’s stock valued at $82,000 after purchasing an additional 339 shares during the period. Independent Solutions Wealth Management LLC lifted its holdings in shares of Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after purchasing an additional 11,181 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Trade Desk during the third quarter valued at $11,296,000. Finally, Franklin Resources Inc. raised its position in Trade Desk by 326.1% during the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after buying an additional 389,917 shares during the period. 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.