Macquarie Raises Trade Desk (NASDAQ:TTD) Price Target to $150.00

Trade Desk (NASDAQ:TTD) had its price target raised by Macquarie from $133.00 to $150.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other analysts also recently issued reports on the stock. Moffett Nathanson assumed coverage on shares of Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price target on the stock. DA Davidson boosted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Truist Financial boosted their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, UBS Group boosted their price objective on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $129.70 on Friday. Trade Desk has a 12-month low of $61.47 and a 12-month high of $132.65. The company has a market capitalization of $64.02 billion, a PE ratio of 212.62, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47. The firm’s 50-day moving average is $116.90 and its two-hundred day moving average is $103.48.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. This trade represents a 42.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the transaction, the director now directly owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,412,367 shares of company stock worth $155,067,356. 9.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at about $30,000. EdgeRock Capital LLC acquired a new position in shares of Trade Desk in the 2nd quarter valued at about $37,000. Avior Wealth Management LLC lifted its position in Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Quarry LP bought a new stake in Trade Desk in the 2nd quarter valued at about $41,000. Finally, Brown Lisle Cummings Inc. lifted its position in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.