Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Macquarie Analyst Says

Trade Desk (NASDAQ:TTD) had its target price boosted by Macquarie from $133.00 to $150.00 in a research report released on Friday,Benzinga reports. Macquarie currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Bank of America started coverage on Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target for the company. Moffett Nathanson initiated coverage on Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target for the company. Oppenheimer boosted their target price on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. New Street Research downgraded 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. Finally, Susquehanna reissued a “positive” rating and issued a $150.00 target price on shares of Trade Desk in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Price Performance

Shares of TTD stock opened at $129.35 on Friday. The firm has a market cap of $63.84 billion, a PE ratio of 212.05, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. The company has a 50-day moving average of $117.38 and a two-hundred day moving average of $103.98. Trade Desk has a 1-year low of $61.47 and a 1-year high of $132.65.

Insider Buying and Selling

In other news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at approximately $80,102,994.79. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $108.68, for a total value 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. The trade was a 26.14 % 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. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Venture Visionary Partners LLC lifted its holdings in Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after buying an additional 4,296 shares during the period. Ithaka Group LLC increased its holdings in Trade Desk by 4.5% during 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. Assetmark Inc. increased its holdings in Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after purchasing an additional 70,687 shares in the last quarter. Swiss National Bank increased its holdings in Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Trade Desk by 5.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock valued at $9,179,000 after acquiring an additional 5,148 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.