JMP Securities Initiates Coverage on Trade Desk (NASDAQ:TTD)

Equities research analysts at JMP Securities initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “mkt outperform” rating and a $150.00 price target on the technology company’s stock. JMP Securities’ price objective suggests a potential upside of 20.56% from the company’s previous close.

A number of other research analysts also recently issued reports on TTD. Oppenheimer boosted their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Loop Capital raised their target price on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Monday, October 7th. UBS Group boosted their price target on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Moffett Nathanson began coverage on shares of Trade Desk in a research report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

Trade Desk Stock Up 3.0 %

Shares of NASDAQ TTD opened at $124.42 on Tuesday. Trade Desk has a 52 week low of $63.63 and a 52 week high of $141.53. The company has a market cap of $61.41 billion, a price-to-earnings ratio of 203.97, a PEG ratio of 3.94 and a beta of 1.45. The firm’s fifty day moving average is $126.20 and its 200 day moving average is $113.07.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CAP Partners LLC lifted its stake in Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares during the last quarter. RMR Wealth Builders boosted its holdings in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Trade Desk by 2.7% in the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after buying an additional 97 shares in the last quarter. Parisi Gray Wealth Management grew its position in shares of Trade Desk by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 4,534 shares of the technology company’s stock valued at $533,000 after buying an additional 99 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.