Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Trade Desk (NASDAQ:TTD) had its target price increased by research analysts at Morgan Stanley from $130.00 to $145.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential upside of 24.19% from the company’s previous close.

A number of other research firms have also weighed in on TTD. Evercore ISI boosted their price objective on Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Scotiabank assumed coverage on Trade Desk in a report on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 price target for the company. Loop Capital raised their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada boosted 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. Finally, Wedbush lifted their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $130.76.

Trade Desk Price Performance

TTD stock opened at $116.76 on Monday. The company has a market capitalization of $57.63 billion, a P/E ratio of 191.41, a price-to-earnings-growth ratio of 6.00 and a beta of 1.45. Trade Desk has a 12 month low of $61.47 and a 12 month high of $141.53. The firm’s fifty day simple moving average is $126.71 and its 200-day simple moving average is $112.27.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,086 shares of company stock worth $4,654,466. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of the business. Ithaka Group LLC lifted its position in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after buying an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC raised its stake in shares of Trade Desk by 33.0% in the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after acquiring an additional 358,350 shares during the last quarter. Assetmark Inc. boosted its position in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank increased its holdings in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after purchasing an additional 4,500 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.