New Street Research Upgrades Trade Desk (NASDAQ:TTD) to “Neutral”

Trade Desk (NASDAQ:TTD) was upgraded by equities research analysts at New Street Research from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $115.00 target price on the technology company’s stock, up from their prior target price of $85.00. New Street Research’s price objective suggests a potential downside of 10.84% from the stock’s current price.

TTD has been the subject of a number of other reports. Evercore ISI upped their target price on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Robert W. Baird upped their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BTIG Research lifted their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp raised their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average target price of $124.66.

Trade Desk Stock Performance

NASDAQ:TTD opened at $128.98 on Monday. Trade Desk has a 1 year low of $61.47 and a 1 year high of $132.65. The business has a fifty day moving average of $117.86 and a 200-day moving average of $104.26. The stock has a market cap of $63.66 billion, a price-to-earnings ratio of 211.44, a PEG ratio of 5.88 and a beta of 1.47.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the sale, the insider now directly owns 178,853 shares in the company, valued at $19,432,378.45. The trade was a 10.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the completion of the transaction, the chief executive officer now owns 565,180 shares in the company, valued at $61,423,762.40. This represents a 26.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Large investors have recently made changes to their positions in the stock. Edgewood Management LLC grew its stake in Trade Desk by 133.3% in 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 buying an additional 5,675,571 shares during the last quarter. Jennison Associates LLC boosted its holdings in Trade Desk by 11.0% during 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 acquiring an additional 2,013,047 shares during the period. Baillie Gifford & Co. boosted its holdings in Trade Desk by 4.7% during the third 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. International Assets Investment Management LLC grew its position in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock valued at $172,460,000 after purchasing an additional 1,558,465 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares during the period. Institutional investors 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.