Trade Desk (NASDAQ:TTD) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Trade Desk (NASDAQ:TTD - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Loop Capital upped their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Robert W. Baird upped their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Oppenheimer raised their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Macquarie boosted their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Finally, Bank of America assumed coverage on Trade Desk in a report on Wednesday, September 4th. They issued a "buy" rating and a $135.00 target price on the stock. 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.66.

Trade Desk Price Performance

Shares of TTD stock traded up $0.40 on Friday, reaching $128.55. 2,214,242 shares of the company were exchanged, compared to its average volume of 3,840,530. The company has a 50-day moving average of $119.46 and a 200-day moving average of $105.17. The company has a market cap of $63.45 billion, a price-to-earnings ratio of 210.74, a PEG ratio of 5.81 and a beta of 1.47. Trade Desk has a one year low of $61.47 and a one year high of $132.65.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,355 shares of the business's 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 in the company, valued at $3,269,019. The trade was a 4.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 20,579 shares of the 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 completion of the sale, the insider now owns 178,853 shares in the company, valued at $19,432,378.45. This trade represents a 10.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,128,938 shares of company stock worth $125,534,054 over the last quarter. 9.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new stake in Trade Desk in the second quarter worth approximately $30,000. Avior Wealth Management LLC increased its position in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company's stock valued at $40,000 after acquiring an additional 100 shares during the period. JFS Wealth Advisors LLC raised its position in Trade Desk by 194.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company's stock valued at $41,000 after purchasing an additional 247 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company's stock worth $41,000 after acquiring an additional 150 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in shares of Trade Desk during the 2nd quarter valued at about $37,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.