Trade Desk (NASDAQ:TTD) Upgraded to “Buy” at StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD – Free Report) from a hold rating to a buy rating in a report released on Friday.

A number of other analysts have also recently weighed in on TTD. Macquarie boosted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday. New Street Research cut shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price for the company. in a research note on Tuesday, October 29th. Wedbush upped their target price on shares of Trade Desk from $115.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Susquehanna reiterated a “positive” rating and set a $150.00 target price on shares of Trade Desk in a research note on Thursday. Finally, Citigroup upped their target price on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.66.

View Our Latest Stock Analysis on Trade Desk

Trade Desk Trading Up 1.8 %

Shares of Trade Desk stock opened at $129.70 on Friday. The firm has a fifty day simple moving average of $116.90 and a 200-day simple moving average of $103.48. Trade Desk has a 1-year low of $61.47 and a 1-year high of $132.65. The stock has a market capitalization of $64.02 billion, a price-to-earnings ratio of 212.62, a PEG ratio of 5.77 and a beta of 1.47.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the transaction, the chief executive officer now directly owns 7,330 shares in the company, valued at approximately $846,615. This represents a 91.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the transaction, the director now owns 29,991 shares in the company, valued at approximately $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,412,367 shares of company stock valued at $155,067,356 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTD. Baillie Gifford & Co. raised its position 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 acquiring an additional 1,720,650 shares during the period. Jennison Associates LLC raised its position in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC raised its position in shares of Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. 1832 Asset Management L.P. raised its position in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the period. Finally, FMR LLC raised its position in shares of Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Company Profile

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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.

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