Trade Desk (NASDAQ:TTD) Price Target Raised to $135.00 at Evercore ISI

Trade Desk (NASDAQ:TTD) had its target price raised by Evercore ISI from $110.00 to $135.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Evercore ISI’s target price would suggest a potential upside of 8.62% from the company’s current price.

A number of other equities research analysts have also commented on the company. Macquarie upped their target price on Trade Desk from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Monday, October 7th. New Street Research downgraded shares of Trade Desk from a “neutral” rating to a “sell” rating and set a $86.00 target price for the company. in a research report on Tuesday, October 29th. Oppenheimer increased their price target on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Benchmark reissued a “sell” rating and issued a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.08.

Trade Desk Price Performance

TTD traded up $0.39 on Thursday, reaching $124.29. 819,878 shares of the stock were exchanged, compared to its average volume of 3,831,562. The company’s 50-day moving average price is $116.45 and its 200 day moving average price is $103.32. The firm has a market capitalization of $61.35 billion, a PE ratio of 202.20, a PEG ratio of 5.41 and a beta of 1.47. Trade Desk has a fifty-two week low of $61.47 and a fifty-two week high of $132.65.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the 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 completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction that occurred 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 owns 178,853 shares in the company, valued at approximately $19,432,378.45. The trade was a 10.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,412,367 shares of company stock valued at $155,067,356. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently bought and sold shares of TTD. Baillie Gifford & Co. grew its stake in shares of Trade Desk by 4.7% in 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 during the period. Jennison Associates LLC grew its position in Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC increased its stake in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the last quarter. 1832 Asset Management L.P. raised its position 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 valued at $278,623,000 after purchasing an additional 270,800 shares during the period. Finally, FMR LLC lifted its stake in shares of Trade Desk by 1.3% in the 3rd quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares during the last quarter. 67.77% of the stock is currently 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.