Trade Desk (NASDAQ:TTD) Price Target Raised to $140.00

Trade Desk (NASDAQ:TTD) had its price target increased by research analysts at Royal Bank of Canada from $136.00 to $140.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 14.90% from the stock’s previous close.

A number of other research firms have also recently weighed in on TTD. BTIG Research lifted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank started coverage on Trade Desk in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 price target for the company. KeyCorp increased their price target on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Moffett Nathanson began coverage on Trade Desk in a research report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Finally, Robert W. Baird increased their target price on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.14.

Trade Desk Price Performance

NASDAQ:TTD opened at $121.84 on Friday. The company has a 50 day moving average price of $126.56 and a 200-day moving average price of $111.18. Trade Desk has a 1-year low of $61.47 and a 1-year high of $141.53. The firm has a market cap of $60.14 billion, a price-to-earnings ratio of 199.74, a price-to-earnings-growth ratio of 6.00 and a beta of 1.45.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated 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. This represents 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 325,528 shares of company stock valued at $37,031,290. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Avior Wealth Management LLC grew its stake in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares in the last quarter. Quarry LP purchased a new position in Trade Desk during the 2nd quarter valued at about $41,000. Brown Lisle Cummings Inc. grew its position in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Trade Desk by 194.5% during the third 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. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Trade Desk during the third quarter worth about $51,000. 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.