Trade Desk (NASDAQ:TTD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Trade Desk (NASDAQ:TTD) had its target price increased by analysts at Morgan Stanley from $130.00 to $145.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 23.04% from the company’s previous close.

TTD has been the topic of several other reports. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. BTIG Research boosted their target price on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler restated an “overweight” rating and issued a $140.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Finally, Wedbush boosted their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.76.

Trade Desk Stock Performance

NASDAQ:TTD traded down $0.95 during trading hours on Monday, hitting $117.85. 1,292,767 shares of the company’s stock traded hands, compared to its average volume of 2,830,045. The firm has a market cap of $58.17 billion, a P/E ratio of 193.20, a P/E/G ratio of 6.00 and a beta of 1.45. Trade Desk has a twelve month low of $61.47 and a twelve month high of $141.53. The stock’s fifty day moving average price is $126.72 and its two-hundred day moving average price is $112.13.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the transaction, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,086 shares of company stock worth $4,654,466. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CAP Partners LLC increased its holdings in Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after purchasing an additional 86 shares in the last quarter. RMR Wealth Builders increased its holdings in Trade Desk by 0.8% during the 4th 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 increased its holdings in Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after purchasing an additional 97 shares in the last quarter. Avior Wealth Management LLC increased its stake 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. Finally, Advisory Resource Group increased its stake 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. 67.77% of the stock is owned by institutional investors and hedge funds.

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.