Truist Financial Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its price objective upped by research analysts at Truist Financial from $135.00 to $155.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price suggests a potential upside of 21.16% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Benchmark reaffirmed a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. Scotiabank initiated coverage on Trade Desk in a research report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective on the stock. Susquehanna reiterated a “positive” rating and set a $150.00 target price on shares of Trade Desk in a report on Thursday, November 21st. Macquarie raised 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, Evercore ISI upped their price target on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.07.

Trade Desk Stock Down 5.3 %

Shares of TTD stock opened at $127.93 on Tuesday. The firm has a market capitalization of $63.14 billion, a price-to-earnings ratio of 209.72, a PEG ratio of 6.00 and a beta of 1.43. The stock has a fifty day moving average of $125.42 and a 200 day moving average of $108.85. Trade Desk has a 52 week low of $61.47 and a 52 week high of $141.53.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 20,579 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the transaction, the insider now owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. This represents a 10.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 565,180 shares of the company’s stock, valued at approximately $61,423,762.40. This represents a 26.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several large investors have recently added to or reduced their stakes in TTD. CAP Partners LLC grew its stake in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the period. Allworth Financial LP boosted its position in shares of Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares during the period. Avior Wealth Management LLC boosted its position in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Advisory Resource Group increased its stake in shares of Trade Desk by 1.0% in the third quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 101 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of Trade Desk by 1.0% during the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 102 shares during the period. 67.77% of the stock is currently owned by institutional investors.

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.