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

Trade Desk (NASDAQ:TTD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other analysts have also recently weighed in on TTD. Citigroup increased their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Needham & Company LLC lifted their price target on Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. BTIG Research boosted their price objective on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson raised their target price on Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus boosted their price target on Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.66.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $128.55 on Friday. The firm has a market capitalization of $63.45 billion, a PE ratio of 210.74, a P/E/G ratio of 5.83 and a beta of 1.47. Trade Desk has a 1-year low of $61.47 and a 1-year high of $132.65. The business’s fifty day moving average price is $119.46 and its two-hundred day moving average price is $105.30.

Insider Activity at Trade Desk

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the sale, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 565,180 shares of the company’s stock, valued at approximately $61,423,762.40. This trade represents a 26.14 % 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 in the last quarter. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings in shares of Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock valued at $60,105,000 after acquiring an additional 389,917 shares in the last quarter. Synovus Financial Corp purchased a new position in Trade Desk in the third quarter valued at about $245,000. Wilmington Savings Fund Society FSB acquired a new position in Trade Desk in the 3rd quarter worth about $1,194,000. World Investment Advisors LLC increased its position in Trade Desk by 10.0% in the 3rd quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company’s stock worth $970,000 after purchasing an additional 803 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Trade Desk by 9.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 47,165 shares of the technology company’s stock worth $5,172,000 after purchasing an additional 4,018 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other 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.