Trade Desk (NASDAQ:TTD) Receives New Coverage from Analysts at Moffett Nathanson

Moffett Nathanson assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $100.00 target price on the technology company’s stock.

Several other research firms also recently issued reports on TTD. Macquarie restated an outperform rating and set a $115.00 target price on shares of Trade Desk in a research report on Friday, August 9th. Oppenheimer raised their target price on Trade Desk from $105.00 to $120.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their target price on Trade Desk from $110.00 to $120.00 and gave the company an outperform rating in a report on Friday, August 9th. BTIG Research raised their price objective on shares of Trade Desk from $110.00 to $114.00 and gave the company a buy rating in a research report on Friday, August 9th. Finally, Loop Capital boosted their price objective on shares of Trade Desk from $109.00 to $120.00 and gave the company a buy rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $108.71.

Trade Desk Stock Performance

Shares of TTD opened at $109.36 on Monday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $112.22. The business has a 50-day moving average of $99.70 and a 200 day moving average of $93.70. The firm has a market cap of $53.76 billion, a P/E ratio of 273.41, a price-to-earnings-growth ratio of 5.33 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $584.55 million for 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 company’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 earnings per share. As a group, research analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 200,000 shares of Trade Desk stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $109.47, for a total value of $21,894,000.00. Following the completion of the transaction, the chief executive officer now owns 765,180 shares of the company’s stock, valued at approximately $83,764,254.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $109.47, for a total value of $21,894,000.00. Following the transaction, the chief executive officer now directly owns 765,180 shares in the company, valued at $83,764,254.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 856,669 shares of company stock worth $91,009,247. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. grew its holdings in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co bought a new stake in shares of Trade Desk during the 1st quarter valued at about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk during the 2nd quarter valued at about $30,000. Bogart Wealth LLC increased its position in shares of Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of Trade Desk in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors 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.