Zacks Investment Research downgraded shares of The Trade Desk Inc. (NASDAQ:TTD) from a buy rating to a hold rating in a research report released on Tuesday, June 27th.
According to Zacks, “The Trade Desk, Inc. is a provider of technology platform for advertising. The company through self-service, cloud-based platform, ad buyers create, manage and optimize data-driven digital advertising campaigns which includes display, video, audio, native and social, on a multitude of devices, such as computers, mobile devices and connected TV. It operates primarily in the United States, Europe and Asia. The Trade Desk, Inc. is headquartered in Ventura, CA. “
A number of other equities analysts also recently weighed in on the stock. Jefferies Group LLC reissued a buy rating and set a $57.00 target price (up previously from $41.00) on shares of The Trade Desk in a research note on Sunday, May 14th. Susquehanna Bancshares Inc reaffirmed a positive rating and issued a $60.00 price target (up from $41.00) on shares of The Trade Desk in a research note on Friday, May 12th. Cantor Fitzgerald set a $60.00 price target on shares of The Trade Desk and gave the company a buy rating in a research note on Thursday, June 22nd. Vetr raised shares of The Trade Desk from a sell rating to a buy rating and set a $40.00 price target for the company in a research note on Thursday, March 30th. Finally, Citigroup Inc. reiterated a buy rating and set a $55.00 price objective (up from $39.00) on shares of The Trade Desk in a report on Monday, May 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The Trade Desk currently has an average rating of Buy and a consensus price target of $52.67.
Shares of The Trade Desk (NASDAQ:TTD) opened at 50.39 on Tuesday. The stock’s 50 day moving average price is $51.94 and its 200 day moving average price is $38.87. The Trade Desk has a 1-year low of $22.00 and a 1-year high of $57.57. The company has a market capitalization of $2.01 billion and a price-to-earnings ratio of 50.54.
The Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 11th. The technology company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.17. The firm had revenue of $53.40 million for the quarter, compared to the consensus estimate of $43.30 million. The Trade Desk’s revenue was up 75.7% compared to the same quarter last year. Analysts expect that The Trade Desk will post $1.08 EPS for the current year.
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In other news, CFO Paul Ross sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $52.61, for a total value of $526,100.00. Following the sale, the chief financial officer now owns 53,788 shares of the company’s stock, valued at $2,829,786.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Terry Green sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $51.05, for a total transaction of $459,450.00. Following the completion of the sale, the insider now directly owns 144,400 shares in the company, valued at approximately $7,371,620. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,303,009 shares of company stock worth $262,717,669. 26.87% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in The Trade Desk during the first quarter worth $103,000. Nationwide Fund Advisors raised its stake in The Trade Desk by 181.5% in the first quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock worth $105,000 after buying an additional 1,824 shares during the period. American International Group Inc. purchased a new stake in The Trade Desk during the first quarter worth $126,000. Strs Ohio raised its stake in The Trade Desk by 100.0% in the first quarter. Strs Ohio now owns 3,400 shares of the technology company’s stock worth $126,000 after buying an additional 1,700 shares during the period. Finally, Pacad Investment Ltd. purchased a new stake in The Trade Desk during the fourth quarter worth $113,000. 52.47% of the stock is currently owned by institutional investors and hedge funds.
The Trade Desk Company Profile
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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