Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by StockNews.com

Trade Desk (NASDAQ:TTD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other brokerages have also recently issued reports on TTD. Wells Fargo & Company started coverage on Trade Desk in a research report on Monday, October 28th. They set an “overweight” rating and a $150.00 target price for the company. Macquarie upped their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC lifted their target price on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Bank of America started coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $110.00 price target on shares of Trade Desk in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $123.66.

Trade Desk Stock Performance

Shares of TTD traded up $2.35 during trading hours on Friday, hitting $129.70. 3,630,426 shares of the company were exchanged, compared to its average volume of 3,846,573. The company has a market cap of $64.02 billion, a PE ratio of 212.62, a PEG ratio of 5.41 and a beta of 1.47. The firm’s 50 day moving average is $116.90 and its 200-day moving average is $103.48. Trade Desk has a 52 week low of $61.47 and a 52 week high of $132.65.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the transaction, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The trade was a 42.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the completion of the sale, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $80,102,994.79. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,412,367 shares of company stock worth $155,067,356 in the last quarter. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Large investors have recently modified their holdings of the stock. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. International Assets Investment Management LLC raised its stake in shares of Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 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.