Macquarie Increases Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its target price hoisted by Macquarie from $100.00 to $115.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on TTD. Wolfe Research initiated coverage on shares of Trade Desk in a report on Tuesday, July 16th. They issued an outperform rating and a $115.00 price target on the stock. Stifel Nicolaus lifted their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the company a buy rating in a report on Thursday, May 9th. KeyCorp boosted their price target on shares of Trade Desk from $100.00 to $105.00 and gave the company an overweight rating in a report on Monday, July 29th. Oppenheimer boosted their price objective on shares of Trade Desk from $105.00 to $120.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, BMO Capital Markets reissued an outperform rating and set a $108.00 target price (up previously from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $101.17.

Trade Desk Trading Down 5.3 %

Shares of TTD stock opened at $83.08 on Tuesday. Trade Desk has a 12-month low of $60.23 and a 12-month high of $102.67. The firm’s 50 day moving average is $96.20 and its 200 day moving average is $86.40. The stock has a market capitalization of $40.64 billion, a P/E ratio of 207.70, a P/E/G ratio of 4.60 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. As a group, equities analysts predict that Trade Desk will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $70,606,106.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,909 shares of company stock worth $20,827,601. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. lifted its stake in Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co bought a new position in Trade Desk during the first quarter worth $27,000. Transcendent Capital Group LLC bought a new position in Trade Desk during the second quarter worth $30,000. Bogart Wealth LLC lifted its stake in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new stake in Trade Desk in the second quarter valued at $37,000. Institutional investors and hedge funds 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.