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

Trade Desk (NASDAQ:TTD) was upgraded by New Street Research from a “sell” rating to a “neutral” rating in a report released on Monday,Briefing.com Automated Import reports. The firm currently has a $115.00 price target on the technology company’s stock, up from their prior price target of $85.00. New Street Research’s price objective points to a potential downside of 11.33% from the stock’s previous close.

Several other research firms have also commented on TTD. Cantor Fitzgerald reiterated a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a report on Monday, October 7th. Macquarie lifted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday. Susquehanna reiterated a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a research report on Thursday. Royal Bank of Canada increased their price target on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Evercore ISI boosted their price target on shares of Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.66.

Trade Desk Price Performance

TTD opened at $129.70 on Monday. The company’s 50 day simple moving average is $117.38 and its two-hundred day simple moving average is $103.98. The firm has a market capitalization of $64.02 billion, a price-to-earnings ratio of 212.62, a price-to-earnings-growth ratio of 5.88 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 80,649 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the sale, the chief executive officer now owns 7,330 shares in the company, valued at approximately $846,615. The trade was a 91.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred 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 transaction, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,128,938 shares of company stock valued at $125,534,054. 9.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of TTD. Anchor Investment Management LLC raised its position in shares of Trade Desk by 357.9% in the 3rd quarter. Anchor Investment Management LLC now owns 870 shares of the technology company’s stock valued at $95,000 after purchasing an additional 680 shares in the last quarter. Advisory Resource Group raised its holdings in shares of Trade Desk by 1.0% during the third quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 101 shares during the period. Rehmann Capital Advisory Group acquired a new position in shares of Trade Desk in the 3rd quarter valued at about $208,000. Toronto Dominion Bank raised its stake in Trade Desk by 27.2% during the third quarter. Toronto Dominion Bank now owns 57,391 shares of the technology company’s stock worth $6,293,000 after acquiring an additional 12,279 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Trade Desk by 74.3% in the third quarter. Coldstream Capital Management Inc. now owns 9,707 shares of the technology company’s stock valued at $1,131,000 after acquiring an additional 4,138 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.