StockNews.com lowered shares of Trade Desk (NASDAQ:TTD – Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.
TTD has been the subject of a number of other research reports. Macquarie reiterated an outperform rating and set a $115.00 price target on shares of Trade Desk in a research note on Friday, August 9th. Needham & Company LLC raised their price objective on shares of Trade Desk from $100.00 to $115.00 and gave the company a buy rating in a research note on Friday, August 9th. KeyCorp raised their price objective on shares of Trade Desk from $105.00 to $115.00 and gave the company an overweight rating in a research note on Friday, August 9th. Citigroup raised their target price on shares of Trade Desk from $112.00 to $115.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, BTIG Research lifted their price target on shares of Trade Desk from $110.00 to $114.00 and gave the stock a buy rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Trade Desk currently has an average rating of Moderate Buy and an average target price of $108.85.
Check Out Our Latest Research Report on TTD
Trade Desk Stock Down 1.0 %
Trade Desk (NASDAQ:TTD – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities research analysts anticipate that Trade Desk will post 0.86 earnings per share for the current fiscal year.
Insider Buying and Selling at Trade Desk
In other news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the transaction, the chief executive officer now directly owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The disclosure for this sale can be found here. Insiders have sold 642,868 shares of company stock valued at $65,415,112 in the last quarter. Corporate insiders own 10.18% of the company’s stock.
Institutional Trading of Trade Desk
A number of hedge funds have recently bought and sold shares of TTD. Global Assets Advisory LLC purchased a new position in Trade Desk during the 1st quarter worth approximately $2,626,000. Franklin Resources Inc. boosted its position in Trade Desk by 15.7% during the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after acquiring an additional 53,441 shares during the period. Nordea Investment Management AB grew its stake in Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after acquiring an additional 70,201 shares in the last quarter. Nicholas Company Inc. boosted its holdings in shares of Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after purchasing an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in Trade Desk during the first quarter valued at approximately $3,011,000. 67.77% of the stock is owned by hedge funds and other institutional investors.
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.
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