Trade Desk’s (TTD) “Outperform” Rating Reaffirmed at Wedbush

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

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird increased their target price on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BTIG Research increased their target price on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. KeyCorp increased their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Susquehanna reiterated a “positive” rating and issued a $150.00 price target on shares of Trade Desk in a research report on Thursday, November 21st. Finally, Evercore ISI raised their target price on shares of Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Trade Desk Stock Performance

NASDAQ TTD traded down $0.78 during trading on Thursday, reaching $125.45. The company’s stock had a trading volume of 1,371,500 shares, compared to its average volume of 3,833,474. The firm has a market cap of $61.92 billion, a price-to-earnings ratio of 205.66, a P/E/G ratio of 6.00 and a beta of 1.43. Trade Desk has a twelve month low of $61.47 and a twelve month high of $141.53. The business’s fifty day moving average price is $125.66 and its 200-day moving average price is $108.98.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated 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 owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This trade represents a 4.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 80,649 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the transaction, the chief executive officer now directly owns 7,330 shares in the company, valued at $846,615. This trade represents a 91.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 928,938 shares of company stock valued at $103,640,054 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in TTD. Fifth Third Bancorp grew its stake in shares of Trade Desk by 40.6% in the second quarter. Fifth Third Bancorp now owns 16,401 shares of the technology company’s stock valued at $1,602,000 after buying an additional 4,734 shares in the last quarter. &PARTNERS bought a new position in Trade Desk during the second quarter worth $364,000. Premier Path Wealth Partners LLC boosted its position in Trade Desk by 18.6% during the second quarter. Premier Path Wealth Partners LLC now owns 5,310 shares of the technology company’s stock worth $519,000 after purchasing an additional 831 shares during the period. Quotient Wealth Partners LLC bought a new position in Trade Desk during the second quarter worth $206,000. Finally, EdgeRock Capital LLC bought a new position in Trade Desk during the second quarter worth $37,000. 67.77% of the stock is owned by institutional investors.

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.