Trade Desk (NASDAQ:TTD) Price Target Raised to $140.00 at Royal Bank of Canada

Trade Desk (NASDAQ:TTD) had its target price upped by Royal Bank of Canada from $136.00 to $140.00 in a report published on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other brokerages have also recently issued reports on TTD. Moffett Nathanson initiated coverage on shares of Trade Desk in a report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 target price on the stock. Needham & Company LLC raised their price target on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a report on Monday, October 7th. Finally, Scotiabank initiated coverage on Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.14.

Trade Desk Price Performance

Trade Desk stock opened at $121.84 on Friday. Trade Desk has a one year low of $61.47 and a one year high of $141.53. The business’s fifty day moving average is $126.56 and its 200 day moving average is $111.09. The stock has a market capitalization of $60.14 billion, a PE ratio of 199.74, a price-to-earnings-growth ratio of 6.00 and a beta of 1.43.

Insider Buying and Selling at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 325,528 shares of company stock worth $37,031,290 over the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently modified their holdings of TTD. Baillie Gifford & Co. raised its position 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 last quarter. Jennison Associates LLC grew its position in shares of Trade Desk by 11.0% in the third 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 increased its stake 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 buying an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. boosted its stake 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 during the last quarter. Finally, FMR LLC lifted 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 in the last quarter. Hedge funds and other 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.