Trade Desk (NASDAQ:TTD) Now Covered by JMP Securities

Research analysts at JMP Securities assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “mkt outperform” rating and a $150.00 price target on the technology company’s stock. JMP Securities’ target price indicates a potential upside of 20.56% from the company’s previous close.

A number of other research firms also recently issued reports on TTD. Royal Bank of Canada lifted their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC boosted their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Finally, Macquarie raised their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.13.

Trade Desk Stock Performance

TTD opened at $124.42 on Tuesday. The stock has a market capitalization of $61.41 billion, a P/E ratio of 203.97, a price-to-earnings-growth ratio of 3.94 and a beta of 1.45. Trade Desk has a one year low of $63.63 and a one year high of $141.53. The business’s 50-day simple moving average is $126.20 and its 200-day simple moving average is $113.07.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ithaka Group LLC lifted its stake in Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after purchasing an additional 4,836 shares in the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after purchasing an additional 4,296 shares during the period. Nordea Investment Management AB raised its position in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares in the last quarter. Assetmark Inc. grew its position in Trade Desk by 2,461.2% during the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank increased its stake in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after acquiring an additional 4,500 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.