StockNews.com Downgrades Trade Desk (NASDAQ:TTD) to Hold

StockNews.com downgraded shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a research report report published on Tuesday morning.

TTD has been the subject of a number of other research reports. Evercore ISI upgraded Trade Desk to a strong-buy rating in a report on Tuesday, August 6th. KeyCorp raised their target price on shares of Trade Desk from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Oppenheimer boosted their price target on shares of Trade Desk from $105.00 to $120.00 and gave the company an outperform rating in a research report on Monday, July 15th. Stifel Nicolaus restated a buy rating and issued a $111.00 price objective (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Finally, Susquehanna upped their target price on Trade Desk from $110.00 to $135.00 and gave the stock a positive rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk has an average rating of Moderate Buy and an average target price of $108.71.

Trade Desk Stock Up 0.1 %

Shares of TTD opened at $109.45 on Tuesday. The stock has a market capitalization of $53.80 billion, a P/E ratio of 273.63, a PEG ratio of 5.33 and a beta of 1.48. Trade Desk has a twelve month low of $60.23 and a twelve month high of $112.22. The firm has a fifty day simple moving average of $99.96 and a two-hundred day simple moving average of $93.90.

Trade Desk (NASDAQ:TTD) last posted 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. 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 analyst estimates of $578.03 million. During the same period in the prior year, the business posted $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. Sell-side analysts expect that Trade Desk will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction that occurred 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 sale, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk 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 completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold a total of 1,056,669 shares of company stock worth $113,117,247 in the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Trade Desk by 1,277.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,719 shares of the technology company’s stock worth $4,075,000 after buying an additional 38,691 shares during the period. Lazari Capital Management Inc. purchased a new stake in Trade Desk in the second quarter worth $316,000. Sanctuary Advisors LLC bought a new stake in shares of Trade Desk during the second quarter worth $4,214,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Trade Desk during the second quarter valued at $72,000. Finally, Clearbridge Investments LLC grew its holdings in shares of Trade Desk by 5.1% in the second quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock worth $46,786,000 after purchasing an additional 23,073 shares during the last quarter. 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.