Trade Desk (NASDAQ:TTD) Trading 0.4% Higher on Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price traded up 0.4% on Monday after Macquarie raised their price target on the stock from $90.00 to $92.00. Macquarie currently has an outperform rating on the stock. Trade Desk traded as high as $76.68 and last traded at $76.62. 1,355,413 shares were traded during mid-day trading, a decline of 77% from the average session volume of 5,926,102 shares. The stock had previously closed at $76.31.

A number of other brokerages have also recently commented on TTD. KeyCorp raised their price objective on shares of Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Cantor Fitzgerald cut their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target on Trade Desk from $122.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler raised their price objective on Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Finally, Loop Capital dropped their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.12.

Insider Transactions at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the transaction, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Brown Advisory Inc. boosted its position in Trade Desk by 198.4% in the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company’s stock valued at $443,358,000 after buying an additional 5,387,339 shares during the period. Norges Bank acquired a new stake in shares of Trade Desk in the fourth quarter valued at $524,187,000. Nuveen LLC purchased a new position in Trade Desk in the first quarter valued at $191,935,000. Raymond James Financial Inc. acquired a new position in Trade Desk during the 4th quarter worth $231,570,000. Finally, Vanguard Group Inc. increased its holdings in Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company’s stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Up 0.6%

The company has a fifty day simple moving average of $56.12 and a two-hundred day simple moving average of $93.51. The company has a market cap of $38.09 billion, a PE ratio of 98.43, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.