Susquehanna Reaffirms “Positive” Rating for Trade Desk (NASDAQ:TTD)

Trade Desk (NASDAQ:TTD)‘s stock had its “positive” rating reissued by analysts at Susquehanna in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $150.00 price target on the technology company’s stock. Susquehanna’s price target points to a potential upside of 21.07% from the stock’s current price.

TTD has been the topic of several other research reports. Bank of America began coverage on shares of Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price target on the stock. Wedbush increased their price target on shares of Trade Desk from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC boosted their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Robert W. Baird raised their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial boosted their target price on Trade Desk from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $122.65.

Trade Desk Stock Up 3.8 %

Shares of Trade Desk stock opened at $123.90 on Thursday. The stock’s 50-day simple moving average is $116.45 and its 200-day simple moving average is $103.32. Trade Desk has a 52 week low of $61.47 and a 52 week high of $132.65. The company has a market capitalization of $61.15 billion, a price-to-earnings ratio of 203.11, a PEG ratio of 5.41 and a beta of 1.47.

Insiders Place Their Bets

In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. This represents a 42.67 % 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. 9.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake 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 worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of 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 buying an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its position 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 holdings in Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares during the last quarter. Finally, FMR LLC lifted its stake in Trade Desk by 1.3% in 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 in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.