Scotiabank Initiates Coverage on Trade Desk (NASDAQ:TTD)

Research analysts at Scotiabank assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “sector perform” rating and a $133.00 price target on the technology company’s stock. Scotiabank’s price objective would indicate a potential downside of 4.39% from the stock’s previous close.

A number of other analysts have also commented on TTD. Truist Financial lifted their price target on Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC boosted their target price on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, Royal Bank of Canada raised their target price on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $124.94.

Trade Desk Stock Performance

Shares of TTD opened at $139.11 on Thursday. The stock has a market capitalization of $68.66 billion, a price-to-earnings ratio of 228.05, a PEG ratio of 6.31 and a beta of 1.43. Trade Desk has a 52 week low of $61.47 and a 52 week high of $141.53. The stock has a fifty day moving average of $122.27 and a 200-day moving average of $106.75.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 80,649 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total value of $9,314,959.50. Following the completion of the sale, the chief executive officer now directly owns 7,330 shares of the company’s stock, valued at approximately $846,615. This represents a 91.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, the director now owns 29,991 shares in the company, valued at approximately $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTD. CAP Partners LLC grew its position in Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Trade Desk by 2.7% in the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after acquiring an additional 97 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Advisory Resource Group lifted its holdings in Trade Desk by 1.0% during the third quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock worth $1,152,000 after acquiring an additional 101 shares during the period. Finally, HM Payson & Co. boosted its position in Trade Desk by 1.0% in the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 102 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.