Trade Desk (NASDAQ:TTD) Price Target Raised to $155.00 at Wolfe Research

Trade Desk (NASDAQ:TTD) had its price target increased by Wolfe Research from $140.00 to $155.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research firms have also commented on TTD. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Monday, October 7th. Macquarie upped their target price on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. 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 research report on Friday, November 8th. Robert W. Baird upped their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company initiated coverage on Trade Desk in a report on Monday, October 28th. They issued an “overweight” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.14.

Trade Desk Price Performance

NASDAQ:TTD opened at $121.84 on Friday. The company has a market cap of $60.14 billion, a price-to-earnings ratio of 199.74, a PEG 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’s 50 day simple moving average is $126.56 and its two-hundred day simple moving average is $111.09.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $112.30, for a total transaction of $22,460,000.00. Following the transaction, the chief executive officer now directly owns 87,979 shares in the company, valued at approximately $9,880,041.70. This trade represents a 69.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,528 shares of company stock valued at $37,031,290 in the last ninety days. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently added to or reduced their stakes in the stock. Stablepoint Partners LLC lifted its position in shares of Trade Desk by 7.8% during the second quarter. Stablepoint Partners LLC now owns 12,377 shares of the technology company’s stock valued at $1,141,000 after buying an additional 899 shares during the last quarter. TD Asset Management Inc lifted its position in Trade Desk by 10.7% during the second quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock valued at $155,547,000 after acquiring an additional 153,748 shares during the last quarter. Mayflower Financial Advisors LLC boosted its stake in Trade Desk by 3.2% in the second quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock valued at $409,000 after acquiring an additional 129 shares in the last quarter. SouthState Corp purchased a new position in Trade Desk in the second quarter worth $254,000. Finally, Victory Capital Management Inc. increased its position in shares of Trade Desk by 12.3% during the second quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock worth $159,151,000 after purchasing an additional 177,832 shares in the last quarter. 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.