Trade Desk (NASDAQ:TTD) Hits New 12-Month High After Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD) shares reached a new 52-week high on Thursday after Citigroup raised their price target on the stock from $115.00 to $140.00. Citigroup currently has a buy rating on the stock. Trade Desk traded as high as $118.90 and last traded at $117.31, with a volume of 252067 shares changing hands. The stock had previously closed at $117.94.

TTD has been the topic of several other reports. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective (up from $110.00) on shares of Trade Desk in a report on Thursday, September 12th. Oppenheimer upped their price target on shares of Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie boosted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, Susquehanna raised their price target on Trade Desk from $110.00 to $135.00 and gave the stock a “positive” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.97.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 80,649 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total value of $9,314,959.50. Following the completion of the sale, the chief executive officer now directly owns 7,330 shares of the company’s stock, valued at $846,615. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 80,649 shares of Trade Desk stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the transaction, the chief executive officer now directly owns 7,330 shares in the company, valued at approximately $846,615. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,557,897 shares of company stock valued at $170,095,115. 10.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. Apella Capital LLC grew its position in shares of Trade Desk by 1.9% in the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after buying an additional 100 shares during the last quarter. Wealth Alliance lifted its stake in Trade Desk by 0.6% in the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock worth $1,810,000 after acquiring an additional 106 shares during the period. Parisi Gray Wealth Management boosted its holdings in Trade Desk by 2.6% in the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after acquiring an additional 111 shares in the last quarter. RFP Financial Group LLC boosted its holdings in Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock valued at $54,000 after acquiring an additional 116 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its position in Trade Desk by 6.2% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,123 shares of the technology company’s stock valued at $233,000 after purchasing an additional 123 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Down 0.5 %

The company’s fifty day simple moving average is $105.52 and its 200 day simple moving average is $96.62. The firm has a market capitalization of $57.41 billion, a P/E ratio of 294.43, a price-to-earnings-growth ratio of 5.68 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The company had revenue of $584.55 million during the quarter, compared to the consensus estimate of $578.03 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Trade Desk’s revenue was up 25.9% on a year-over-year basis. On average, analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.