Wedbush Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price upped by equities research analysts at Wedbush from $135.00 to $145.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wedbush’s price target suggests a potential upside of 14.35% from the company’s current price.

TTD has been the topic of several other research reports. KeyCorp upped their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer raised their price objective on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. UBS Group upped their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, Truist Financial raised their target price on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. One 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.48.

Trade Desk Price Performance

TTD traded up $4.96 during midday trading on Monday, reaching $126.80. 1,127,528 shares of the company’s stock were exchanged, compared to its average volume of 1,922,243. The business’s 50-day moving average price is $126.56 and its 200 day moving average price is $111.26. The stock has a market capitalization of $62.59 billion, a PE ratio of 207.87, a P/E/G ratio of 6.00 and a beta of 1.45. Trade Desk has a 1-year low of $61.47 and a 1-year high of $141.53.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,528 shares of company stock worth $14,571,290 in the last 90 days. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TTD. Avior Wealth Management LLC boosted its holdings in Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Quarry LP acquired a new stake in Trade Desk during the second quarter worth about $41,000. Brown Lisle Cummings Inc. lifted its holdings in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in Trade Desk by 194.5% in the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after acquiring an additional 247 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Trade Desk during the third quarter valued at approximately $51,000. Institutional investors and hedge funds 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.