Trade Desk (NASDAQ:TTD) Upgraded to Neutral at New Street Research

New Street Research upgraded shares of Trade Desk (NASDAQ:TTD) from a sell rating to a neutral rating in a research report released on Monday morning, Marketbeat reports. The brokerage currently has $115.00 target price on the technology company’s stock, up from their prior target price of $85.00.

Several other research analysts have also recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. UBS Group boosted their target price on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Truist Financial raised their price target on Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 8th. KeyCorp boosted their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $124.66.

Trade Desk Price Performance

NASDAQ TTD opened at $128.15 on Monday. The stock’s 50 day simple moving average is $118.72 and its 200 day simple moving average is $104.72. Trade Desk has a one year low of $61.47 and a one year high of $132.65. The firm has a market cap of $63.25 billion, a PE ratio of 210.08, a price-to-earnings-growth ratio of 5.86 and a beta of 1.47.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the sale, the chief executive officer now owns 565,180 shares in the company, valued at approximately $61,423,762.40. This represents a 26.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the company’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 owns 28,636 shares in the company, valued at approximately $3,375,898.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,128,938 shares of company stock valued at $125,534,054 in the last quarter. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in Trade Desk during the second quarter worth about $30,000. Avior Wealth Management LLC grew its position in Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. JFS Wealth Advisors LLC grew its position 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 last quarter. Brown Lisle Cummings Inc. lifted its holdings in shares of 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. Finally, EdgeRock Capital LLC acquired a new stake in shares of Trade Desk in the 2nd quarter valued at approximately $37,000. Institutional investors own 67.77% of the company’s stock.

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.