Wedbush Reaffirms “Outperform” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTDGet Free Report)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a report issued on Thursday,Benzinga reports. They currently have a $135.00 target price on the technology company’s stock. Wedbush’s price target would indicate a potential upside of 7.99% from the stock’s current price.

A number of other brokerages also recently issued reports on TTD. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Loop Capital increased their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group lifted their price target on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research 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. Finally, Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.07.

Read Our Latest Stock Analysis on Trade Desk

Trade Desk Price Performance

TTD stock opened at $125.01 on Thursday. Trade Desk has a 1 year low of $61.47 and a 1 year high of $141.53. The firm has a market capitalization of $61.70 billion, a PE ratio of 204.93, a price-to-earnings-growth ratio of 6.00 and a beta of 1.43. The business has a 50 day simple moving average of $125.87 and a 200-day simple moving average of $109.10.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jay R. Grant sold 20,579 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the sale, the insider now owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. The trade was a 10.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 928,938 shares of company stock worth $103,640,054 in the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC boosted its holdings in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. JFS Wealth Advisors LLC boosted its stake in Trade Desk by 194.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock worth $41,000 after purchasing an additional 247 shares during the period. Brown Lisle Cummings Inc. grew its position in Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. EdgeRock Capital LLC acquired a new position in Trade Desk in the second quarter valued at $37,000. Finally, Quarry LP purchased a new stake in shares of Trade Desk in the second quarter valued at about $41,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

About Trade Desk

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Trade Desk (NASDAQ:TTD)

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