The Trade Desk, Inc. (NASDAQ:TTD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have been assigned an average recommendation of “Moderate Buy” from the thirty brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $124.66.

A number of research firms have commented on TTD. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Monday, October 7th. Citigroup lifted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. BTIG Research upped their target price on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Finally, Royal Bank of Canada upped their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 9th.

Trade Desk Stock Down 0.3 %

Trade Desk stock opened at $128.98 on Wednesday. The company has a fifty day simple moving average of $117.86 and a 200-day simple moving average of $104.26. The firm has a market capitalization of $63.66 billion, a price-to-earnings ratio of 211.44, a PEG ratio of 5.88 and a beta of 1.47. Trade Desk has a 52-week low of $61.47 and a 52-week high of $132.65.

Insider Transactions at Trade Desk

In related news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total value of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at $80,102,994.79. This represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction dated 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 sale, the chief executive officer now directly owns 565,180 shares of the company’s stock, 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 have sold 1,128,938 shares of company stock valued at $125,534,054. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in TTD. Synovus Financial Corp acquired a new stake in Trade Desk during the third quarter worth approximately $245,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Trade Desk in the 3rd quarter valued at $1,194,000. World Investment Advisors LLC grew its position in shares of Trade Desk by 10.0% in the 3rd quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company’s stock valued at $970,000 after buying an additional 803 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Trade Desk by 9.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 47,165 shares of the technology company’s stock worth $5,172,000 after acquiring an additional 4,018 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its position in Trade Desk by 357.9% in the third quarter. Anchor Investment Management LLC now owns 870 shares of the technology company’s stock valued at $95,000 after acquiring an additional 680 shares during the last quarter. Hedge funds and other 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.