Trade Desk (NASDAQ:TTD – Get Rating) had its price target cut by Royal Bank of Canada from $105.00 to $85.00 in a research note issued on Monday, The Fly reports. Royal Bank of Canada’s price target indicates a potential upside of 73.75% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Susquehanna increased their target price on Trade Desk from $115.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, February 17th. Susquehanna Bancshares increased their price objective on Trade Desk from $115.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, February 17th. Guggenheim began coverage on Trade Desk in a report on Wednesday, March 2nd. They set a “buy” rating and a $108.00 price objective for the company. Benchmark initiated coverage on shares of Trade Desk in a report on Tuesday, March 1st. They issued a “hold” rating on the stock. Finally, KeyCorp cut their price target on shares of Trade Desk from $102.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $98.72.
Shares of Trade Desk stock opened at $48.92 on Monday. Trade Desk has a 52-week low of $46.71 and a 52-week high of $114.09. The firm has a market capitalization of $23.72 billion, a PE ratio of 171.65, a price-to-earnings-growth ratio of 11.17 and a beta of 2.15. The company’s fifty day moving average price is $65.60 and its two-hundred day moving average price is $77.85.
In other Trade Desk news, Director Eric B. Paley sold 7,500 shares of the company’s stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $83.16, for a total transaction of $623,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 9,633 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $74.05, for a total value of $713,323.65. The disclosure for this sale can be found here. Insiders sold a total of 23,217 shares of company stock worth $1,778,114 over the last quarter. Corporate insiders own 10.79% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Trade Desk by 21.6% in the third quarter. Morgan Stanley now owns 25,373,248 shares of the technology company’s stock worth $1,783,739,000 after purchasing an additional 4,509,355 shares during the period. LPL Financial LLC raised its stake in Trade Desk by 6.3% during the 3rd quarter. LPL Financial LLC now owns 590,558 shares of the technology company’s stock worth $41,516,000 after buying an additional 35,165 shares during the period. Bedel Financial Consulting Inc. lifted its holdings in Trade Desk by 9.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 2,250 shares of the technology company’s stock worth $206,000 after acquiring an additional 200 shares in the last quarter. CIBC Asset Management Inc grew its stake in Trade Desk by 12.4% in the fourth quarter. CIBC Asset Management Inc now owns 21,722 shares of the technology company’s stock valued at $1,991,000 after acquiring an additional 2,403 shares during the period. Finally, Quest Investment Management LLC increased its holdings in shares of Trade Desk by 16.9% in the third quarter. Quest Investment Management LLC now owns 195,336 shares of the technology company’s stock worth $13,732,000 after acquiring an additional 28,265 shares in the last quarter. 63.40% of the stock is currently owned by hedge funds and other institutional investors.
Trade Desk Company Profile (Get Rating)
Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.
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