Trade Desk (NASDAQ:TTD) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a research note published on Saturday morning.

Other equities research analysts have also issued reports about the company. Moffett Nathanson assumed coverage on Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Monday, October 7th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 target price (up previously from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $85.00 to $115.00 in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Stock Up 5.1 %

TTD opened at $135.16 on Friday. Trade Desk has a 12-month low of $61.47 and a 12-month high of $136.14. The firm has a market capitalization of $66.71 billion, a P/E ratio of 216.21, a PEG ratio of 5.83 and a beta of 1.47. The stock has a fifty day moving average of $119.46 and a 200-day moving average of $105.41.

Insider Buying and Selling at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares in the company, valued at $80,102,994.79. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,128,938 shares of company stock valued at $125,534,054 in the last 90 days. 9.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Institutional investors have recently bought and sold shares of the business. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the period. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after buying an additional 1,720,650 shares in the last quarter. International Assets Investment Management LLC grew its position in Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after acquiring an additional 1,558,465 shares during the period. Finally, Marshall Wace LLP raised its stake in Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.