Evercore ISI Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target hoisted by Evercore ISI from $110.00 to $135.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on the company. KeyCorp upped their target price on Trade Desk from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Piper Sandler reiterated an “overweight” rating and issued a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. BTIG Research increased their target price on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company started coverage on shares of Trade Desk in a report on Monday, October 28th. They set an “overweight” rating and a $150.00 price target on the stock. Finally, DA Davidson increased their price objective on Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.08.

Trade Desk Trading Up 2.7 %

Shares of TTD stock opened at $127.27 on Thursday. The stock’s fifty day simple moving average is $116.45 and its 200-day simple moving average is $103.32. The company has a market capitalization of $62.82 billion, a price-to-earnings ratio of 208.65, a P/E/G ratio of 5.41 and a beta of 1.47. Trade Desk has a 1-year low of $61.47 and a 1-year high of $132.65.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. This trade represents a 42.67 % 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 dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,412,367 shares of company stock worth $155,067,356 over the last three months. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position 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 buying an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the last quarter. Edgewood Management LLC increased its holdings in Trade Desk by 133.3% during the 3rd 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 in the last quarter. 1832 Asset Management L.P. grew its holdings 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 last quarter. Finally, FMR LLC increased 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 valued at $286,867,000 after buying an additional 32,999 shares in the last quarter. Institutional investors and hedge funds 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.