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

Trade Desk (NASDAQ:TTD) had its target price lifted by stock analysts at Macquarie from $133.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Macquarie’s price objective points to a potential upside of 15.65% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Benchmark reiterated a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research report on Friday, November 8th. Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company initiated coverage on Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 target price on the stock. Susquehanna reiterated a “positive” rating and set a $150.00 target price on shares of Trade Desk in a research report on Thursday. Finally, New Street Research downgraded Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price on the stock. in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Price Performance

TTD stock opened at $129.70 on Friday. The company has a market cap of $64.02 billion, a P/E ratio of 212.62, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47. The stock’s fifty day moving average price is $117.38 and its 200-day moving average price is $103.75. Trade Desk has a 1 year low of $61.47 and a 1 year high of $132.65.

Insider Transactions at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 29,991 shares of the company’s stock, valued at $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at $39,682,694.40. The trade was a 42.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,412,367 shares of company stock valued at $155,067,356. 9.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently added to or reduced their stakes in TTD. Acadian Asset Management LLC grew its stake in shares of Trade Desk by 99.4% during the first quarter. Acadian Asset Management LLC now owns 11,022 shares of the technology company’s stock valued at $962,000 after buying an additional 5,495 shares during the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Trade Desk by 96.9% during the first quarter. UniSuper Management Pty Ltd now owns 6,300 shares of the technology company’s stock valued at $551,000 after buying an additional 3,100 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Trade Desk by 1,073.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,028 shares of the technology company’s stock valued at $265,000 after buying an additional 2,770 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Trade Desk by 51.2% during the first quarter. EP Wealth Advisors LLC now owns 10,254 shares of the technology company’s stock valued at $896,000 after buying an additional 3,473 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Trade Desk by 1.4% during the first quarter. Lazard Asset Management LLC now owns 12,755 shares of the technology company’s stock valued at $1,114,000 after buying an additional 171 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.