Trade Desk (NASDAQ:TTD) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Trade Desk (NASDAQ:TTD) in a research note published on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $150.00 price objective on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald restated a “neutral” rating and set a $110.00 price objective on shares of Trade Desk in a research note on Monday, October 7th. Royal Bank of Canada boosted their price target on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Moffett Nathanson started coverage on shares of Trade Desk in a research report on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective for the company. Macquarie boosted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Wolfe Research initiated coverage on shares of Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $115.66.

Trade Desk Stock Performance

TTD opened at $118.98 on Monday. Trade Desk has a 1 year low of $60.23 and a 1 year high of $121.44. The firm has a 50 day moving average price of $109.41 and a 200 day moving average price of $98.64. The company has a market cap of $58.20 billion, a PE ratio of 297.45, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. The company 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 quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, sell-side analysts predict that Trade Desk will post 0.86 earnings per share for the current year.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now directly owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,557,897 shares of company stock worth $170,121,565. 10.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently made changes to their positions in TTD. Brookstone Capital Management grew its holdings in Trade Desk by 33.6% in the 1st quarter. Brookstone Capital Management now owns 4,477 shares of the technology company’s stock worth $391,000 after buying an additional 1,126 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Trade Desk by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after purchasing an additional 59,161 shares in the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of Trade Desk by 0.5% during the first quarter. Azzad Asset Management Inc. ADV now owns 58,542 shares of the technology company’s stock valued at $5,118,000 after purchasing an additional 296 shares during the period. Albion Financial Group UT raised its stake in shares of Trade Desk by 1.5% during the first quarter. Albion Financial Group UT now owns 13,709 shares of the technology company’s stock valued at $1,198,000 after purchasing an additional 200 shares in the last quarter. Finally, Norden Group LLC bought a new stake in shares of Trade Desk during the first quarter valued at about $807,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Company Profile

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.