Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by New Street Research

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at New Street Research from a “sell” rating to a “neutral” rating in a research note issued on Monday, MarketBeat reports. The brokerage presently has a $115.00 target price on the technology company’s stock, up from their previous target price of $85.00. New Street Research’s target price would suggest a potential downside of 10.84% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial increased their target price on shares of Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Moffett Nathanson initiated coverage on Trade Desk in a research report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Benchmark reissued a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Macquarie upped their target price on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, UBS Group lifted their price target on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Price Performance

NASDAQ:TTD opened at $128.98 on Monday. The stock has a market cap of $63.66 billion, a P/E ratio of 211.44, a PEG ratio of 5.88 and a beta of 1.47. The company has a fifty day moving average price of $117.86 and a 200 day moving average price of $104.26. Trade Desk has a one year low of $61.47 and a one year high of $132.65.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $109.47, for a total value of $21,894,000.00. Following the transaction, the chief executive officer now directly owns 765,180 shares in the company, valued at approximately $83,764,254.60. This trade represents a 20.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, the director now directly owns 29,991 shares in the company, valued at $3,269,019. This trade represents a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,128,938 shares of company stock worth $125,534,054 in the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors have recently modified their holdings of the business. Synovus Financial Corp bought a new position in shares of Trade Desk in the 3rd quarter worth $245,000. Wilmington Savings Fund Society FSB acquired a new position in Trade Desk in the third quarter valued at about $1,194,000. World Investment Advisors LLC boosted its holdings in Trade Desk by 10.0% during the third quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company’s stock worth $970,000 after buying an additional 803 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Trade Desk by 9.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 47,165 shares of the technology company’s stock worth $5,172,000 after buying an additional 4,018 shares during the period. Finally, Anchor Investment Management LLC increased its stake in shares of Trade Desk by 357.9% in the 3rd quarter. Anchor Investment Management LLC now owns 870 shares of the technology company’s stock valued at $95,000 after acquiring an additional 680 shares during the last quarter. Institutional investors and hedge funds 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.