Trade Desk (NASDAQ:TTD) Reaches New 12-Month High – Should You Buy?

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TTD shares. Robert W. Baird increased their target price on Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wedbush upped their price target on shares of Trade Desk from $115.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson boosted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 price target on shares of Trade Desk in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $124.66.

Trade Desk Trading Up 3.7 %

The stock has a market capitalization of $65.79 billion, a price-to-earnings ratio of 216.21, a price-to-earnings-growth ratio of 5.83 and a beta of 1.47. The firm has a 50-day moving average of $119.46 and a 200 day moving average of $105.41.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $108.68, for a total value of $21,736,000.00. Following the sale, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. This trade represents a 26.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 29,991 shares in the company, valued at $3,269,019. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,128,938 shares of company stock worth $125,534,054 over the last ninety days. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in shares of Trade Desk by 175.0% during the first quarter. Cetera Investment Advisers now owns 142,702 shares of the technology company’s stock worth $12,475,000 after purchasing an additional 90,818 shares during the period. Cetera Advisors LLC increased its position in Trade Desk by 152.2% in the 1st quarter. Cetera Advisors LLC now owns 41,593 shares of the technology company’s stock worth $3,636,000 after purchasing an additional 25,098 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Trade Desk by 17.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,824 shares of the technology company’s stock worth $178,000 after purchasing an additional 266 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Trade Desk by 11.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,494 shares of the technology company’s stock valued at $146,000 after buying an additional 159 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Trade Desk by 3.8% in the 2nd quarter. DNB Asset Management AS now owns 70,490 shares of the technology company’s stock valued at $6,885,000 after buying an additional 2,591 shares in the last quarter. 67.77% of the stock is owned by 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.