Trade Desk (NASDAQ:TTD) Sets New 52-Week High – Here’s What Happened

Shares of The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week high during trading on Monday . The stock traded as high as $136.14 and last traded at $134.90, with a volume of 1703934 shares trading hands. The stock had previously closed at $128.55.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TTD shares. Truist Financial raised their price target on Trade Desk from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday. Loop Capital boosted their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America assumed coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.66.

Trade Desk Stock Up 3.0 %

The firm has a market cap of $68.69 billion, a P/E ratio of 228.13, a P/E/G ratio of 6.13 and a beta of 1.43. The business has a fifty day moving average of $120.56 and a 200 day moving average of $106.02.

Insider Buying and Selling

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on 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 transaction, the director now directly owns 29,991 shares of the company’s stock, valued at $3,269,019. The trade was a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 20,579 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total value of $2,235,908.35. Following the sale, the insider now owns 178,853 shares of the company’s stock, valued at approximately $19,432,378.45. This represents a 10.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,128,938 shares of company stock valued at $125,534,054. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its holdings in Trade Desk by 4.7% in the 3rd 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 during the period. Jennison Associates LLC increased its stake 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 acquiring an additional 2,013,047 shares during the last quarter. Edgewood Management LLC raised its position in Trade Desk by 133.3% during 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 in the last quarter. 1832 Asset Management L.P. lifted its stake in 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 raised its holdings in shares of Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock worth $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.

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.