Trade Desk’s (TTD) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a report released on Thursday, MarketBeat reports. The brokerage currently has a $115.00 price target on the technology company’s stock, up from their prior price target of $110.00.

Several other equities research analysts have also weighed in on the stock. Evercore ISI upgraded shares of Trade Desk to a strong-buy rating in a research note on Tuesday, August 6th. Citigroup raised their price target on Trade Desk from $112.00 to $115.00 and gave the stock a buy rating in a report on Friday, August 9th. BTIG Research upped their price objective on Trade Desk from $110.00 to $114.00 and gave the stock a buy rating in a research note on Friday, August 9th. Cantor Fitzgerald began coverage on Trade Desk in a research note on Thursday, September 5th. They issued a neutral rating and a $110.00 target price on the stock. Finally, Truist Financial upped their price target on shares of Trade Desk from $105.00 to $108.00 and gave the stock a buy rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $109.05.

Trade Desk Stock Up 1.5 %

TTD stock opened at $106.06 on Thursday. The stock’s 50 day moving average is $97.94 and its two-hundred day moving average is $92.22. Trade Desk has a 52-week low of $60.23 and a 52-week high of $107.64. The company has a market capitalization of $52.14 billion, a PE ratio of 265.16, a P/E/G ratio of 5.03 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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $578.03 million. During the same quarter in the previous year, the firm earned $0.07 EPS. The company’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction on 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 completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at approximately $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 599,163 shares of company stock valued at $61,246,529. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the company. Global Assets Advisory LLC bought a new stake in Trade Desk during the 1st quarter valued at approximately $2,626,000. Franklin Resources Inc. boosted its position in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after acquiring an additional 53,441 shares during the period. Nordea Investment Management AB grew its stake in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after acquiring an additional 70,201 shares during the last quarter. Nicholas Company Inc. increased its position in 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 acquiring an additional 305,615 shares during the period. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Trade Desk during the 1st quarter valued at $3,011,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.