Trade Desk (NASDAQ:TTD) Reaches New 12-Month High – Should You Buy?

The Trade Desk, Inc. (NASDAQ:TTD) shares reached a new 52-week high during trading on Monday . The stock traded as high as $136.14 and last traded at $134.90, with a volume of 1703934 shares trading hands. The stock had previously closed at $128.55.

Analyst Ratings Changes

Several equities research analysts have commented on TTD shares. UBS Group boosted their price target on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. KeyCorp boosted their price objective on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer upped their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC upped their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, DA Davidson upped their price target on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.66.

Trade Desk Price Performance

The company’s 50-day moving average price is $119.46 and its two-hundred day moving average price is $105.41. The company has a market capitalization of $65.79 billion, a price-to-earnings ratio of 216.21, a PEG ratio of 5.83 and a beta of 1.47.

Insiders Place Their Bets

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 value of $159,740.95. Following the transaction, the director now directly owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the transaction, the chief financial officer now directly owns 693,953 shares in the company, valued at $80,102,994.79. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,128,938 shares of company stock worth $125,534,054. 9.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTD. Baillie Gifford & Co. grew its position in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Trade Desk by 11.0% during 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. Edgewood Management LLC increased its holdings in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after buying an additional 5,675,571 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after buying an additional 270,800 shares during the period. Finally, FMR LLC grew its stake in shares of Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $286,867,000 after purchasing an additional 32,999 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.