Evercore ISI Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price increased by Evercore ISI from $110.00 to $135.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company initiated coverage on Trade Desk in a research note on Monday, October 28th. They issued an “overweight” rating and a $150.00 price target on the stock. Robert W. Baird upped their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. BTIG Research increased their price target on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, UBS Group raised their target price on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $123.66.

Trade Desk Price Performance

Shares of TTD opened at $129.70 on Thursday. The company has a 50-day simple moving average of $117.38 and a two-hundred day simple moving average of $103.98. The firm has a market capitalization of $64.02 billion, a PE ratio of 212.62, a price-to-earnings-growth ratio of 5.88 and a beta of 1.47. Trade Desk has a one year low of $61.47 and a one year high of $132.65.

Insider Activity at Trade Desk

In other news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $108.68, for a total value of $21,736,000.00. Following the transaction, the chief executive officer now owns 565,180 shares in the company, valued at $61,423,762.40. This trade represents a 26.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is owned by insiders.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Baillie Gifford & Co. raised its position 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 valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Jennison Associates LLC increased its stake in Trade Desk by 11.0% in the 3rd 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 in the last quarter. Edgewood Management LLC lifted its position in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after acquiring an additional 270,800 shares during the period. Finally, FMR LLC boosted its stake in shares of Trade Desk by 1.3% in the third 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 during the period. 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.