Trade Desk (NASDAQ:TTD) Trading 1.4% Higher

Shares of The Trade Desk, Inc. (NASDAQ:TTD) traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $91.91 and last traded at $91.11. 570,496 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,097,785 shares. The stock had previously closed at $89.88.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $108.00 price target (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Macquarie boosted their price objective on shares of Trade Desk from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday. DA Davidson boosted their price objective on shares of Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Piper Sandler restated an “overweight” rating and set a $110.00 price objective on shares of Trade Desk in a research report on Tuesday, June 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.17.

Trade Desk Trading Down 2.3 %

The company has a market cap of $42.94 billion, a P/E ratio of 222.83, a PEG ratio of 4.60 and a beta of 1.48. The stock’s 50-day moving average price is $96.30 and its 200-day moving average price is $86.39.

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

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now directly owns 32,701 shares in the company, valued at $3,216,797.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold 213,909 shares of company stock worth $20,827,601 in the last quarter. Insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Trade Desk by 134.3% during the 4th quarter. Blue Trust Inc. now owns 628 shares of the technology company’s stock valued at $49,000 after buying an additional 360 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at $494,000. LVZ Inc. bought a new stake in shares of Trade Desk during the 4th quarter valued at $209,000. Ballentine Partners LLC raised its stake in shares of Trade Desk by 28.7% during the 4th quarter. Ballentine Partners LLC now owns 3,605 shares of the technology company’s stock valued at $259,000 after purchasing an additional 803 shares during the period. Finally, Derbend Asset Management raised its stake in shares of Trade Desk by 64.4% during the 4th quarter. Derbend Asset Management now owns 4,583 shares of the technology company’s stock valued at $330,000 after purchasing an additional 1,795 shares during the period. 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.