Truist Financial Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its target price hoisted by investment analysts at Truist Financial from $135.00 to $155.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective would indicate a potential upside of 21.16% from the company’s current price.

Other analysts have also issued research reports about the stock. DA Davidson lifted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Piper Sandler restated an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Oppenheimer upped their price objective on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price for the company. Finally, New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $115.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.07.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $127.93 on Tuesday. The firm has a market cap of $63.14 billion, a PE ratio of 209.72, a P/E/G ratio of 6.00 and a beta of 1.43. Trade Desk has a 1 year low of $61.47 and a 1 year high of $141.53. The stock has a fifty day moving average price of $125.42 and a 200-day moving average price of $108.85.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on 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 $83,764,254.60. This trade represents a 20.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business’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 transaction of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,128,938 shares of company stock valued at $125,534,054 in the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Trade Desk by 286.9% during the 2nd quarter. Blue Trust Inc. now owns 1,327 shares of the technology company’s stock worth $130,000 after acquiring an additional 984 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Trade Desk by 3.0% in the second quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock worth $439,000 after buying an additional 135 shares during the period. Raymond James & Associates increased its stake in shares of Trade Desk by 69.3% in the second quarter. Raymond James & Associates now owns 421,404 shares of the technology company’s stock worth $41,159,000 after buying an additional 172,451 shares during the period. Western Wealth Management LLC bought a new stake in Trade Desk during the 2nd quarter valued at $211,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Trade Desk during the 2nd quarter valued at $249,000. 67.77% of the stock is owned by institutional investors.

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.