Trade Desk (NASDAQ:TTD) Upgraded at New Street Research

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at New Street Research from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports. The firm currently has a $115.00 target price on the technology company’s stock, up from their previous target price of $85.00. New Street Research’s price objective indicates a potential downside of 11.33% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. BTIG Research upped their price target on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $140.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Loop Capital boosted their target price on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group boosted their price target on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson boosted their target price on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.66.

Trade Desk Stock Performance

TTD opened at $129.70 on Monday. The stock’s fifty day moving average is $117.38 and its 200-day moving average is $103.98. The company has a market capitalization of $64.02 billion, a PE ratio of 212.62, a P/E/G ratio of 5.88 and a beta of 1.47. Trade Desk has a one year low of $61.47 and a one year high of $132.65.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the completion of the transaction, the chief executive officer now owns 565,180 shares in the company, valued at approximately $61,423,762.40. This represents a 26.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of TTD. Edgewood Management LLC lifted its position in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Jennison Associates LLC lifted its stake in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Trade Desk by 10,856.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after purchasing an additional 1,558,465 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.