Moffett Nathanson Initiates Coverage on Trade Desk (NASDAQ:TTD)

Equities research analysts at Moffett Nathanson began coverage on shares of Trade Desk (NASDAQ:TTD) in a research report issued on Monday, Marketbeat.com reports. The firm set a “neutral” rating and a $100.00 price target on the technology company’s stock. Moffett Nathanson’s price target points to a potential downside of 9.74% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald initiated coverage on Trade Desk in a research note on Thursday, September 5th. They set a “neutral” rating and a $110.00 price target on the stock. Benchmark upped their price objective on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Tuesday, June 11th. Truist Financial upped their price objective on Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Citigroup upped their price objective on Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.71.

Trade Desk Stock Up 2.1 %

Shares of NASDAQ TTD opened at $110.79 on Monday. The company has a market cap of $54.19 billion, a P/E ratio of 276.98, a P/E/G ratio of 5.07 and a beta of 1.48. Trade Desk has a 12 month low of $60.23 and a 12 month high of $111.80. The business’s 50 day moving average is $99.11 and its two-hundred day moving average is $93.47.

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, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the previous year, the business posted $0.07 earnings per share. Trade Desk’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $109.47, for a total value of $21,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 765,180 shares of the company’s stock, valued at $83,764,254.60. 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 the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $109.47, for a total transaction of $21,894,000.00. Following the completion of the transaction, the chief executive officer now directly owns 765,180 shares in the company, valued at approximately $83,764,254.60. The disclosure for this sale can be found here. Insiders sold a total of 996,748 shares of company stock valued at $104,640,053 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Trade Desk by 1,277.8% during 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 purchasing an additional 38,691 shares during the period. Lazari Capital Management Inc. purchased a new stake in shares of Trade Desk during the second quarter worth about $316,000. Sanctuary Advisors LLC purchased a new stake in shares of Trade Desk during the second quarter worth about $4,214,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Trade Desk during the second quarter worth about $72,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Trade Desk by 5.1% during 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 period. 67.77% of the stock is owned by institutional investors.

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.