Morgan Stanley Boosts Trade Desk (NASDAQ:TTD) Price Target to $145.00

Trade Desk (NASDAQ:TTD) had its target price boosted by Morgan Stanley from $130.00 to $145.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

Several other research firms have also recently commented on TTD. Royal Bank of Canada raised their target price on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Moffett Nathanson started coverage on Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price on the stock. Wedbush increased their price target on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Monday, October 7th. Finally, DA Davidson raised their target price on Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One 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. Based on data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.55.

Trade Desk Stock Performance

NASDAQ:TTD opened at $119.68 on Monday. The stock has a market cap of $59.07 billion, a price-to-earnings ratio of 196.20, a PEG ratio of 3.76 and a beta of 1.45. Trade Desk has a 1 year low of $61.47 and a 1 year high of $141.53. The business has a fifty day moving average of $126.55 and a 200-day moving average of $112.46.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,086 shares of company stock valued at $4,654,466. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its stake in shares of 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 purchasing an additional 1,720,650 shares during the last quarter. Jennison Associates LLC increased its position 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 worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Edgewood Management LLC increased its position in Trade Desk by 133.3% during the third 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 during the last quarter. 1832 Asset Management L.P. raised its holdings in Trade Desk by 10.5% during the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after buying an additional 270,800 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after acquiring an additional 32,999 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.