Trade Desk (NASDAQ:TTD) Trading 6.7% Higher Following Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD)’s share price shot up 6.7% on Monday after KeyCorp raised their price target on the stock from $140.00 to $142.00. KeyCorp currently has an overweight rating on the stock. Trade Desk traded as high as $123.98 and last traded at $125.17. 1,483,959 shares changed hands during trading, a decline of 58% from the average session volume of 3,561,959 shares. The stock had previously closed at $117.29.

A number of other equities research analysts have also commented on TTD. Evercore ISI increased their price target on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Truist Financial boosted their price objective on Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Wolfe Research upped their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Citigroup increased their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $133.20.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the company. Evoke Wealth LLC lifted its stake in Trade Desk by 15.0% during the fourth quarter. Evoke Wealth LLC now owns 2,724 shares of the technology company’s stock valued at $320,000 after purchasing an additional 356 shares during the last quarter. Tejara Capital Ltd acquired a new position in Trade Desk during the fourth quarter worth $611,000. PDS Planning Inc bought a new stake in Trade Desk during the 4th quarter worth about $215,000. Kensington Investment Counsel LLC lifted its holdings in Trade Desk by 0.5% in the fourth quarter. Kensington Investment Counsel LLC now owns 37,404 shares of the technology company’s stock valued at $4,396,000 after buying an additional 179 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its stake in Trade Desk by 10.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 807,479 shares of the technology company’s stock valued at $94,863,000 after purchasing an additional 75,199 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Up 4.5 %

The stock’s fifty day moving average price is $123.92 and its 200-day moving average price is $115.30. The company has a market capitalization of $60.48 billion, a price-to-earnings ratio of 200.89, a P/E/G ratio of 3.63 and a beta of 1.45.

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.