Andrea Lee Cunningham Sells 1,606 Shares of The Trade Desk, Inc. (NASDAQ:TTD) Stock

The Trade Desk, Inc. (NASDAQ:TTD) Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the transaction, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Trade Desk Price Performance

Shares of NASDAQ TTD traded up $1.21 during trading hours on Monday, hitting $102.64. 2,469,818 shares of the stock were exchanged, compared to its average volume of 4,181,074. The Trade Desk, Inc. has a one year low of $60.23 and a one year high of $102.77. The company’s 50 day moving average is $95.73 and its 200 day moving average is $88.58. The firm has a market capitalization of $50.20 billion, a P/E ratio of 256.61, a P/E/G ratio of 5.01 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS. Research analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Oppenheimer increased their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group raised shares of Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Royal Bank of Canada increased their price objective on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley increased their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $108.00 target price (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.26.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Jennison Associates LLC increased its position in shares of Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock valued at $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank bought a new stake in shares of Trade Desk in the 4th quarter valued at approximately $255,316,000. 1832 Asset Management L.P. acquired a new position in shares of Trade Desk in the 1st quarter worth approximately $225,710,000. Marshall Wace LLP raised its holdings in shares of Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after buying an additional 818,568 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

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.