Traders Purchase High Volume of Trade Desk Call Options (NASDAQ:TTD)

The Trade Desk, Inc. (NASDAQ:TTD) saw unusually large options trading activity on Wednesday. Traders acquired 30,781 call options on the stock. This represents an increase of 39% compared to the average volume of 22,159 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price target on the stock. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 price target for the company. Cantor Fitzgerald began coverage on Trade Desk in a research report on Thursday, September 5th. They set a “neutral” rating and a $110.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Trade Desk in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada raised their target price on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.05.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the transaction, the chief executive officer now directly owns 380,832 shares in the company, valued at $39,682,694.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 703,038 shares in the company, valued at $70,606,106.34. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 596,748 shares of company stock worth $61,010,053. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in Trade Desk during the 1st quarter worth approximately $2,626,000. Franklin Resources Inc. grew its stake in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after purchasing an additional 53,441 shares during the last quarter. Nordea Investment Management AB increased its holdings in Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after purchasing an additional 70,201 shares during the period. Nicholas Company Inc. raised its position in Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after purchasing an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in Trade Desk during the 1st quarter worth about $3,011,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Up 2.0 %

NASDAQ TTD opened at $110.14 on Friday. The firm’s 50 day simple moving average is $98.55 and its 200 day simple moving average is $92.74. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 275.36, a P/E/G ratio of 5.07 and a beta of 1.48. Trade Desk has a 1 year low of $60.23 and a 1 year high of $111.80.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share 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 business 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 company earned $0.07 EPS. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities research analysts forecast that Trade Desk will post 0.86 earnings per share for the current year.

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.