Trade Desk (NASDAQ:TTD) Given New $160.00 Price Target at BMO Capital Markets

Trade Desk (NASDAQ:TTD) had its target price lifted by BMO Capital Markets from $125.00 to $160.00 in a report released on Wednesday morning, MarketBeat Ratings reports. BMO Capital Markets currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also weighed in on TTD. Wells Fargo & Company lifted their target price on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial raised their target price on Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Macquarie upped their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their target price on shares of Trade Desk from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.55.

Trade Desk Stock Up 2.5 %

Shares of TTD stock opened at $119.68 on Wednesday. The stock has a fifty day moving average of $126.55 and a 200 day moving average of $112.46. The firm has a market capitalization of $59.07 billion, a price-to-earnings ratio of 196.20, a PEG ratio of 3.76 and a beta of 1.45. Trade Desk has a 52 week low of $61.47 and a 52 week high of $141.53.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,086 shares of company stock valued at $4,654,466. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its holdings in shares of 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 during the period. Jennison Associates LLC grew its position in Trade Desk by 11.0% during the third 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. Edgewood Management LLC increased its holdings in Trade Desk by 133.3% in 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 buying an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the period. Finally, FMR LLC boosted its stake in shares of Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after acquiring an additional 32,999 shares in the last quarter. Hedge funds and other institutional investors 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.