Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by StockNews.com

Trade Desk (NASDAQ:TTD) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

TTD has been the subject of several other research reports. Robert W. Baird raised their price target on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Benchmark restated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Truist Financial raised their price target on Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 8th. Loop Capital raised their price target on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Trading Up 1.8 %

Shares of TTD opened at $129.70 on Friday. The business’s 50 day moving average is $117.38 and its 200 day moving average is $103.75. The company has a market capitalization of $64.02 billion, a PE ratio of 212.62, a price-to-earnings-growth ratio of 5.77 and a beta of 1.47. Trade Desk has a 12-month low of $61.47 and a 12-month high of $132.65.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the sale, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $80,102,994.79. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,412,367 shares of company stock valued at $155,067,356. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new stake in Trade Desk during the 2nd quarter worth approximately $30,000. Avior Wealth Management LLC grew its holdings in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. JFS Wealth Advisors LLC grew its holdings in shares of Trade Desk by 194.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after purchasing an additional 247 shares during the period. Brown Lisle Cummings Inc. lifted its stake in Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in Trade Desk during the 2nd quarter worth about $37,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.