The Trade Desk, Inc. (NASDAQ:TTD) Receives Average Recommendation of “Moderate Buy” from Analysts

The Trade Desk, Inc. (NASDAQ:TTD) has earned an average recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and twenty-four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $127.07.

A number of research analysts recently commented on the company. BTIG Research boosted their price target on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson upped their target price on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC lifted their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Oppenheimer increased their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $85.00 to $115.00 in a report on Monday, November 25th.

Trade Desk Trading Down 1.0 %

NASDAQ TTD opened at $125.01 on Friday. Trade Desk has a 12 month low of $61.47 and a 12 month high of $141.53. The stock has a market cap of $61.70 billion, a price-to-earnings ratio of 204.93, a PEG ratio of 6.00 and a beta of 1.43. The company’s 50 day moving average is $126.02 and its two-hundred day moving average is $109.33.

Insider Buying and Selling

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the completion of the sale, the chief executive officer now owns 365,180 shares of the company’s stock, valued at $40,366,997.20. This trade represents a 35.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 928,938 shares of company stock worth $103,640,054 in the last three months. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Independent Solutions Wealth Management LLC lifted its position in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock valued at $7,057,000 after purchasing an additional 11,181 shares during the period. Oddo BHF Asset Management Sas acquired a new position in shares of Trade Desk in the 3rd quarter valued at about $11,296,000. Franklin Resources Inc. boosted its stake in shares of Trade Desk by 326.1% in the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after buying an additional 389,917 shares during the last quarter. Synovus Financial Corp acquired a new stake in Trade Desk during the third quarter worth about $245,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Trade Desk during the third quarter valued at approximately $1,194,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.