Wedbush Forecasts Strong Price Appreciation for Trade Desk (NASDAQ:TTD) Stock

Trade Desk (NASDAQ:TTD) had its target price upped by investment analysts at Wedbush from $135.00 to $145.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would suggest a potential upside of 19.43% from the company’s previous close.

A number of other research analysts have also issued reports on the company. KeyCorp lifted their target price on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Susquehanna reaffirmed a “positive” rating and issued a $150.00 price objective on shares of Trade Desk in a research note on Thursday, November 21st. UBS Group increased their target price on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Wolfe Research lifted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Oppenheimer increased their price objective on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.48.

Trade Desk Price Performance

TTD opened at $121.41 on Monday. Trade Desk has a 1-year low of $61.47 and a 1-year high of $141.53. The company has a market capitalization of $59.92 billion, a price-to-earnings ratio of 199.03, a price-to-earnings-growth ratio of 6.00 and a beta of 1.45. The business has a 50 day moving average price of $126.71 and a two-hundred day moving average price of $111.63.

Insider Activity

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk 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 transaction, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the business. Westwind Capital bought a new stake in Trade Desk in the 4th quarter valued at $15,642,000. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Trade Desk during the fourth quarter valued at about $1,328,000. GAMMA Investing LLC lifted its stake in shares of Trade Desk by 9.3% in the fourth quarter. GAMMA Investing LLC now owns 2,313 shares of the technology company’s stock valued at $272,000 after buying an additional 196 shares during the period. Finally, Versant Capital Management Inc grew its position in Trade Desk by 94.4% during the fourth quarter. Versant Capital Management Inc now owns 698 shares of the technology company’s stock worth $82,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds 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.