Trade Desk (NASDAQ:TTD) Given New $145.00 Price Target at Morgan Stanley

Trade Desk (NASDAQ:TTD) had its price objective increased by analysts at Morgan Stanley from $130.00 to $145.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target points to a potential upside of 23.04% from the company’s previous close.

A number of other analysts have also commented on TTD. Wedbush increased their price objective on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Susquehanna reaffirmed a “positive” rating and set a $150.00 price objective on shares of Trade Desk in a research note on Thursday, November 21st. Wells Fargo & Company increased their price objective on Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday. Oppenheimer raised their price target on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Macquarie raised their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.76.

Trade Desk Trading Down 0.8 %

Shares of TTD stock traded down $0.95 during mid-day trading on Monday, reaching $117.85. The stock had a trading volume of 1,292,767 shares, compared to its average volume of 2,830,045. Trade Desk has a 12-month low of $61.47 and a 12-month high of $141.53. The company has a market cap of $58.17 billion, a P/E ratio of 193.20, a price-to-earnings-growth ratio of 6.00 and a beta of 1.45. The business has a 50-day simple moving average of $126.72 and a 200 day simple moving average of $112.13.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,086 shares of company stock worth $4,654,466. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Jennison Associates LLC raised its position in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC raised its position in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. 1832 Asset Management L.P. raised its position in shares of Trade Desk by 10.5% during 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 purchasing an additional 270,800 shares during the period. Finally, FMR LLC raised its position in shares of Trade Desk by 1.3% during 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 period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.