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

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research report report published on Friday morning.

Other equities analysts have also issued reports about the company. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Needham & Company LLC boosted their price target on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Oppenheimer lifted their price objective on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $110.00) on shares of Trade Desk in a report on Friday, November 8th. One investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Price Performance

NASDAQ TTD opened at $129.35 on Friday. The stock’s 50-day moving average is $117.38 and its two-hundred day moving average is $103.98. The firm has a market cap of $63.84 billion, a P/E ratio of 212.05, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. Trade Desk has a fifty-two week low of $61.47 and a fifty-two week high of $132.65.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now owns 29,991 shares in the company, valued at approximately $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the transaction, the insider now owns 178,853 shares of the company’s stock, valued at $19,432,378.45. The trade was a 10.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,128,938 shares of company stock valued at $125,534,054. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the stock. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk during the second quarter worth $30,000. EdgeRock Capital LLC bought a new stake in shares of Trade Desk in the second quarter worth $37,000. Avior Wealth Management LLC grew its stake in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Quarry LP bought a new stake in shares of Trade Desk in the second quarter worth $41,000. Finally, Brown Lisle Cummings Inc. grew its stake in shares of Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About Trade Desk

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.