Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Wolfe Research Analyst Says

Trade Desk (NASDAQ:TTD) had its price objective hoisted by Wolfe Research from $140.00 to $155.00 in a research report released on Friday,Benzinga reports. Wolfe Research currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. KeyCorp increased their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI increased their price target on Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Robert W. Baird increased their price target on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial increased their price target on Trade Desk from $135.00 to $155.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer increased their price target on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.14.

Trade Desk Stock Performance

NASDAQ:TTD opened at $121.84 on Friday. The company has a market cap of $60.14 billion, a PE ratio of 199.74, a PEG ratio of 6.00 and a beta of 1.45. Trade Desk has a 52-week low of $61.47 and a 52-week high of $141.53. The stock has a 50-day simple moving average of $126.56 and a 200 day simple moving average of $111.26.

Insider Activity

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total value of $2,885,750.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,528 shares of company stock worth $14,571,290. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Edgewood Management LLC grew its position in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. Jennison Associates LLC lifted its holdings in 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. lifted its holdings in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. International Assets Investment Management LLC lifted its holdings in Trade Desk by 10,856.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares during the period. 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.