Trade Desk (NASDAQ:TTD) Now Covered by Analysts at Scotiabank

Analysts at Scotiabank initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a research report issued on Thursday, Marketbeat reports. The firm set a “sector perform” rating and a $133.00 price target on the technology company’s stock. Scotiabank’s target price points to a potential downside of 4.39% from the company’s current price.

A number of other analysts also recently issued reports on the company. KeyCorp raised their target price on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Needham & Company LLC upped their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Benchmark reiterated a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. Finally, Truist Financial upped their price target 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $124.94.

Trade Desk Stock Up 2.0 %

Shares of TTD stock opened at $139.11 on Thursday. The firm has a market cap of $68.66 billion, a P/E ratio of 228.05, a PEG ratio of 6.31 and a beta of 1.43. The company has a 50 day moving average of $122.27 and a 200-day moving average of $106.75. Trade Desk has a 12-month low of $61.47 and a 12-month high of $141.53.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the completion of the sale, the chief financial officer now directly owns 693,953 shares of the company’s stock, valued at $80,102,994.79. This trade represents a 3.48 % 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 modified their holdings of the stock. Oddo BHF Asset Management Sas bought a new stake in Trade Desk in the 3rd quarter worth $11,296,000. Franklin Resources Inc. grew its stake in shares of Trade Desk by 326.1% in the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after purchasing an additional 389,917 shares during the last quarter. Synovus Financial Corp purchased a new position in Trade Desk during the 3rd quarter valued at about $245,000. Wilmington Savings Fund Society FSB bought a new position in Trade Desk during the 3rd quarter valued at approximately $1,194,000. Finally, World Investment Advisors LLC lifted its holdings in Trade Desk by 10.0% in the 3rd 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 period. Institutional investors 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.