Trade Desk’s (TTD) “Outperform” Rating Reiterated at Wedbush

Wedbush reiterated their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a research report sent to investors on Thursday morning,Benzinga reports. Wedbush currently has a $135.00 target price on the technology company’s stock.

A number of other equities analysts have also commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a report on Monday, October 7th. Loop Capital lifted their target price on Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Piper Sandler reissued an “overweight” rating and issued a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Evercore ISI lifted their price objective on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company started coverage on shares of Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $124.94.

Trade Desk Price Performance

Trade Desk stock opened at $132.42 on Thursday. The business has a 50 day moving average of $124.59 and a 200-day moving average of $108.19. The company has a market capitalization of $65.36 billion, a P/E ratio of 217.08, a P/E/G ratio of 6.00 and a beta of 1.43. Trade Desk has a 1 year low of $61.47 and a 1 year high of $141.53.

Insider Buying and Selling

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $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 accessible through this link. Also, CEO Jeffrey Terry Green sold 80,649 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the sale, the chief executive officer now owns 7,330 shares of the company’s stock, valued at approximately $846,615. The trade was a 91.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of TTD. Baillie Gifford & Co. raised 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 valued at $4,245,218,000 after acquiring an additional 1,720,650 shares during the period. Jennison Associates LLC raised its stake 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 valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC raised its stake in shares of Trade Desk by 133.3% during the 3rd 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 during the period. 1832 Asset Management L.P. lifted its holdings in 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 worth $278,623,000 after purchasing an additional 270,800 shares in the last quarter. Finally, FMR LLC boosted its stake in Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after purchasing an additional 32,999 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.