Trade Desk (NASDAQ:TTD) Cut to Sell at New Street Research

New Street Research downgraded shares of Trade Desk (NASDAQ:TTD) from a neutral rating to a sell rating in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has $86.00 target price on the technology company’s stock.

A number of other equities research analysts have also issued reports on TTD. KeyCorp increased their price target on Trade Desk from $115.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Wolfe Research assumed coverage on shares of Trade Desk in a report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price objective for the company. Truist Financial increased their price objective on shares of Trade Desk from $108.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird increased their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.60.

Trade Desk Price Performance

NASDAQ:TTD opened at $120.21 on Tuesday. The firm has a market capitalization of $59.09 billion, a price-to-earnings ratio of 240.42, a price-to-earnings-growth ratio of 5.86 and a beta of 1.48. Trade Desk has a one year low of $60.23 and a one year high of $123.85. The business has a fifty day moving average price of $110.15 and a 200-day moving average price of $99.05.

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

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock worth $170,121,565 over the last three months. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after purchasing an additional 97 shares during the period. Apella Capital LLC lifted its position in Trade Desk by 1.9% during the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after purchasing an additional 100 shares during the period. HM Payson & Co. lifted its position in Trade Desk by 1.0% during the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 102 shares during the period. Wealth Alliance lifted its position in Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after purchasing an additional 106 shares during the period. Finally, Parisi Gray Wealth Management lifted its position in Trade Desk by 2.6% during the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after purchasing an additional 111 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.