Morgan Stanley Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD - Get Free Report) had its price target boosted by equities research analysts at Morgan Stanley from $130.00 to $145.00 in a research 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 indicates a potential upside of 23.00% from the stock's previous close.

TTD has been the topic of a number of other research reports. Needham & Company LLC increased their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Robert W. Baird lifted their target price on Trade Desk from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. StockNews.com cut Trade Desk from a "buy" rating to a "hold" rating in a research report on Saturday, November 30th. Macquarie raised their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Finally, 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 report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and a consensus target price of $130.76.

Trade Desk Stock Performance

Shares of TTD traded down $0.91 during trading hours on Monday, hitting $117.89. The company had a trading volume of 2,707,413 shares, compared to its average volume of 3,039,556. Trade Desk has a 52-week low of $61.47 and a 52-week high of $141.53. The firm has a fifty day moving average price of $126.72 and a 200-day moving average price of $112.13. The stock has a market capitalization of $58.19 billion, a price-to-earnings ratio of 193.26, a P/E/G ratio of 6.00 and a beta of 1.45.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company's stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, 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. Over the last quarter, insiders sold 38,086 shares of company stock worth $4,654,466. 9.72% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Several institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company's stock valued at $4,245,218,000 after buying an additional 1,720,650 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its holdings in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. 1832 Asset Management L.P. grew its stake in Trade Desk by 10.5% in the second quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company's stock worth $278,623,000 after purchasing an additional 270,800 shares in the last quarter. Finally, FMR LLC increased its holdings in Trade Desk by 1.3% during the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company's stock worth $286,867,000 after purchasing an additional 32,999 shares during the period. Institutional investors own 67.77% of the company's stock.

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.