Benchmark Reiterates Sell Rating for Trade Desk (NASDAQ:TTD)

Benchmark reiterated their sell rating on shares of Trade Desk (NASDAQ:TTD) in a report issued on Friday,Benzinga reports. The brokerage currently has a $57.00 price target on the technology company’s stock.

Several other research firms have also commented on TTD. Susquehanna increased their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Friday, August 9th. Robert W. Baird increased their price target on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. Piper Sandler restated an “overweight” rating and set a $140.00 price objective (up from $110.00) on shares of Trade Desk in a research report on Friday. Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Wedbush restated an “outperform” rating and set a $115.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.65.

Trade Desk Price Performance

Shares of TTD opened at $129.34 on Friday. The stock has a market capitalization of $63.58 billion, a price-to-earnings ratio of 212.03, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. Trade Desk has a 1 year low of $61.47 and a 1 year high of $132.65. The business’s 50 day simple moving average is $113.32 and its 200-day simple moving average is $101.59.

Insider Activity

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its holdings in shares of Trade Desk by 4.7% during the third 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 in the last quarter. Jennison Associates LLC increased its stake in Trade Desk by 11.0% during 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 purchasing an additional 2,013,047 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after buying an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its stake in shares of Trade Desk by 4.3% during the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.