Trade Desk (NASDAQ:TTD) Price Target Raised to $142.00

Trade Desk (NASDAQ:TTD) had its price target lifted by Wells Fargo & Company from $141.00 to $142.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Several other research firms have also recently commented on TTD. BTIG Research raised their target price on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Loop Capital raised their target price on shares of Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wedbush raised their target price on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and raised their price objective for the company from $85.00 to $115.00 in a research note on Monday, November 25th. 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 company. Based on data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $132.55.

Trade Desk Stock Performance

TTD stock opened at $119.68 on Monday. Trade Desk has a one year low of $61.47 and a one year high of $141.53. The stock has a market capitalization of $59.07 billion, a PE ratio of 196.20, a price-to-earnings-growth ratio of 6.00 and a beta of 1.45. The company has a fifty day moving average of $126.55 and a 200-day moving average of $112.46.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated 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 sale, the director now directly owns 28,636 shares in the company, valued at $3,375,898.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction 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. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,086 shares of company stock worth $4,654,466. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. grew its holdings in 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 during the period. Jennison Associates LLC grew its holdings in Trade Desk by 11.0% in the third 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 period. Edgewood Management LLC grew 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 purchasing an additional 5,675,571 shares during the period. 1832 Asset Management L.P. grew its holdings in 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 valued at $278,623,000 after purchasing an additional 270,800 shares during the period. Finally, FMR LLC grew its holdings in Trade Desk by 1.3% in the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares during the period. 67.77% of the stock is currently owned by hedge funds and other 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.