Trade Desk (NASDAQ:TTD) Sets New 52-Week High at $100.25

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $100.25 and last traded at $99.88, with a volume of 984772 shares changing hands. The stock had previously closed at $98.34.

Analyst Upgrades and Downgrades

TTD has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a research note on Thursday, May 9th. Susquehanna reissued a “positive” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Finally, Wedbush began coverage on Trade Desk in a report on Monday, June 17th. They issued an “outperform” rating and a $110.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.69.

Trade Desk Stock Performance

The stock has a fifty day simple moving average of $92.96 and a two-hundred day simple moving average of $82.79. The stock has a market cap of $48.65 billion, a price-to-earnings ratio of 248.36, a P/E/G ratio of 5.00 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. Equities analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $85.13, for a total transaction of $6,384,750.00. Following the completion of the transaction, the chief executive officer now directly owns 899,022 shares of the company’s stock, valued at approximately $76,533,742.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $85.13, for a total value of $6,384,750.00. Following the transaction, the chief executive officer now directly owns 899,022 shares in the company, valued at $76,533,742.86. The disclosure for this sale can be found here. Insiders sold a total of 340,154 shares of company stock worth $31,128,226 in the last quarter. 10.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. grew its stake in Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares during the period. Riverview Trust Co bought a new stake in Trade Desk in the first quarter worth about $27,000. Bogart Wealth LLC boosted its stake in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Level Financial Advisors Inc. grew its position in shares of Trade Desk by 50.0% during the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Trade Desk by 889.4% during the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after purchasing an additional 418 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.