Trade Desk’s (TTD) “Outperform” Rating Reiterated at Wedbush

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report issued on Thursday,Benzinga reports. They presently have a $135.00 target price on the technology company’s stock. Wedbush’s price objective points to a potential upside of 1.95% from the company’s previous close.

A number of other brokerages have also issued reports on TTD. BTIG Research raised 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. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Scotiabank started coverage on Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective for the company. Finally, Needham & Company LLC lifted their price objective on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.94.

Trade Desk Price Performance

Shares of TTD stock opened at $132.42 on Thursday. The firm has a market capitalization of $65.36 billion, a price-to-earnings ratio of 217.08, a price-to-earnings-growth ratio of 6.08 and a beta of 1.43. The business has a fifty day moving average of $124.59 and a 200 day moving average of $108.10. Trade Desk has a 1 year low of $61.47 and a 1 year high of $141.53.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. The trade was a 26.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, the director now owns 29,991 shares in the company, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,128,938 shares of company stock worth $125,534,054. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CAP Partners LLC grew its stake in shares of Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. Allworth Financial LP lifted its position in shares of Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after acquiring an additional 97 shares during the period. Avior Wealth Management LLC lifted its position in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. Advisory Resource Group lifted its position in shares of Trade Desk by 1.0% during the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 101 shares during the period. Finally, HM Payson & Co. lifted its position in shares of Trade Desk by 1.0% during the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after acquiring an additional 102 shares during the period. Hedge funds and other institutional investors 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.