Truist Financial Raises Trade Desk (NASDAQ:TTD) Price Target to $155.00

Trade Desk (NASDAQ:TTD) had its price objective hoisted by analysts at Truist Financial from $135.00 to $155.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective indicates a potential upside of 16.57% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. BTIG Research lifted their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America assumed coverage on shares of Trade Desk in a report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. Moffett Nathanson began coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 target price on the stock. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Finally, Benchmark reaffirmed a “sell” rating and set a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.61.

Trade Desk Price Performance

Shares of Trade Desk stock traded up $0.32 during trading hours on Tuesday, reaching $132.97. The company’s stock had a trading volume of 708,910 shares, compared to its average volume of 3,818,649. Trade Desk has a one year low of $61.47 and a one year high of $141.53. The stock has a market cap of $65.63 billion, a P/E ratio of 217.18, a P/E/G ratio of 6.00 and a beta of 1.43. The firm has a 50 day moving average price of $125.01 and a 200-day moving average price of $108.55.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 20,579 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 178,853 shares in the company, valued at approximately $19,432,378.45. The trade was a 10.32 % 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 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently added to or reduced their stakes in the business. CAP Partners LLC lifted its position in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after buying an additional 86 shares in the last quarter. Allworth Financial LP raised 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 during the period. Avior Wealth Management LLC raised its holdings in shares of Trade Desk by 37.7% in the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the period. Advisory Resource Group raised its holdings in shares of Trade Desk by 1.0% in the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock valued at $1,152,000 after buying an additional 101 shares during the period. Finally, HM Payson & Co. raised its holdings in shares of Trade Desk by 1.0% in the 3rd quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after buying an additional 102 shares during the period. 67.77% of the stock is 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.