Trade Desk (NASDAQ:TTD) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a report issued on Thursday morning,Benzinga reports. They currently have a $135.00 target price on the technology company’s stock.

A number of other analysts also recently issued reports on TTD. Bank of America assumed coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target for the company. Loop Capital boosted their price target on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stifel Nicolaus increased their price target on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Benchmark reaffirmed a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Finally, UBS Group increased their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $124.94.

Trade Desk Stock Performance

Shares of TTD stock opened at $132.42 on Thursday. Trade Desk has a 52-week low of $61.47 and a 52-week high of $141.53. The business’s fifty day moving average is $124.59 and its 200 day moving average is $108.19. The company has a market capitalization of $65.36 billion, a PE ratio of 217.08, a price-to-earnings-growth ratio of 6.00 and a beta of 1.43.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total transaction 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 $61,423,762.40. This represents a 26.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over 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.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently added to or reduced their stakes in the company. Ithaka Group LLC grew its stake in shares of Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Trade Desk by 33.0% during the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares in the last quarter. Assetmark Inc. raised its position in shares of Trade Desk by 2,461.2% in 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 during the last quarter. Swiss National Bank boosted its stake in Trade Desk by 0.3% in 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Trade Desk by 3.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after purchasing an additional 68,206 shares during 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.