Trade Desk (NASDAQ:TTD) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research report released on Thursday, Benzinga reports. Needham & Company LLC currently has a $100.00 price target on the technology company’s stock.

TTD has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on shares of Trade Desk from $105.00 to $110.00 and gave the company an outperform rating in a report on Thursday, May 9th. Wedbush reaffirmed an outperform rating and issued a $110.00 target price on shares of Trade Desk in a report on Monday, July 22nd. BMO Capital Markets reaffirmed an outperform rating and issued a $108.00 target price (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Citigroup boosted their price objective on shares of Trade Desk from $110.00 to $112.00 and gave the company a buy rating in a research note on Thursday, May 9th. 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 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $100.38.

Trade Desk Trading Up 1.7 %

TTD stock opened at $92.43 on Thursday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $102.67. The company’s 50 day moving average is $96.63 and its two-hundred day moving average is $85.79. The stock has a market cap of $45.21 billion, a P/E ratio of 231.08, a PEG ratio of 4.65 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. On average, equities research analysts predict that Trade Desk will post 0.85 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $84.47, for a total value of $6,335,250.00. Following the transaction, the chief executive officer now directly owns 824,022 shares in the company, valued at approximately $69,605,138.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The disclosure for this sale can be found here. Insiders have sold 288,909 shares of company stock worth $27,162,851 in the last three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Mutual Advisors LLC lifted its holdings in Trade Desk by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 4,502 shares of the technology company’s stock valued at $324,000 after purchasing an additional 156 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Trade Desk by 10.2% in the 4th quarter. HB Wealth Management LLC now owns 5,395 shares of the technology company’s stock valued at $388,000 after purchasing an additional 500 shares in the last quarter. Raymond James & Associates increased its stake in shares of Trade Desk by 12.8% during the 4th quarter. Raymond James & Associates now owns 252,370 shares of the technology company’s stock valued at $18,161,000 after acquiring an additional 28,714 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Trade Desk by 0.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 263,971 shares of the technology company’s stock valued at $18,995,000 after acquiring an additional 1,314 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of Trade Desk during the 4th quarter valued at about $215,000. 67.77% of the stock is currently 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.