Trade Desk (NASDAQ:TTD) Upgraded by New Street Research to Neutral Rating

New Street Research upgraded shares of Trade Desk (NASDAQ:TTD) from a sell rating to a neutral rating in a report issued on Monday morning, Marketbeat reports. They currently have $115.00 price objective on the technology company’s stock, up from their prior price objective of $85.00.

TTD has been the subject of a number of other research reports. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Susquehanna reiterated a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a research report on Thursday, November 21st. 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 report on Friday, November 8th. KeyCorp boosted their price target on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, UBS Group upped their price objective on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.66.

Trade Desk Price Performance

Trade Desk stock opened at $128.15 on Monday. Trade Desk has a 1-year low of $61.47 and a 1-year high of $132.65. The stock’s 50 day moving average price is $118.32 and its 200 day moving average price is $104.56. The company has a market cap of $63.25 billion, a PE ratio of 211.44, a price-to-earnings-growth ratio of 5.86 and a beta of 1.47.

Insider Activity

In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the transaction, the chief executive officer now directly owns 765,180 shares in the company, valued at approximately $83,764,254.60. The trade was a 20.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,128,938 shares of company stock valued at $125,534,054. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of TTD. Venture Visionary Partners LLC lifted its position in shares of Trade Desk by 33.0% during 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 last quarter. Ithaka Group LLC boosted its holdings in shares of Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares during the period. Assetmark Inc. raised its holdings in shares of Trade Desk by 2,461.2% during the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the period. Swiss National Bank boosted its stake 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 worth $144,892,000 after purchasing an additional 4,500 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Trade Desk by 5.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 93,984 shares of the technology company’s stock valued at $9,179,000 after purchasing an additional 5,148 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.