Trade Desk (NASDAQ:TTD) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research report report published on Monday.

TTD has been the subject of a number of other reports. Stifel Nicolaus reiterated a buy rating and issued a $111.00 target price (up from $105.00) on shares of Trade Desk in a report on Friday, August 9th. Oppenheimer increased their target price on shares of Trade Desk from $105.00 to $120.00 and gave the company an outperform rating in a research report on Monday, July 15th. Truist Financial lifted their price target on shares of Trade Desk from $105.00 to $108.00 and gave the stock a buy rating in a report on Friday, August 9th. Cantor Fitzgerald began coverage on Trade Desk in a report on Thursday, September 5th. They set a neutral rating and a $110.00 price objective for the company. Finally, Macquarie reissued an outperform rating and issued a $115.00 price objective on shares of Trade Desk in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $109.05.

Trade Desk Stock Performance

Shares of TTD opened at $110.14 on Monday. The company has a 50 day moving average price of $98.55 and a 200-day moving average price of $92.74. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $111.80. The stock has a market capitalization of $54.14 billion, a PE ratio of 275.36, a PEG ratio of 5.07 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping 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 company had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. Trade Desk’s revenue was up 25.9% on a year-over-year basis. Equities research analysts forecast that Trade Desk will post 0.86 EPS for the current year.

Insider Buying and Selling

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 in the company, valued at $39,682,694.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction dated 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 owns 3,516 shares in the company, valued at approximately $351,846.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 596,748 shares of company stock valued at $61,010,053. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in Trade Desk by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 724,612 shares of the technology company’s stock valued at $52,149,000 after purchasing an additional 35,164 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Trade Desk by 39.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,139 shares of the technology company’s stock valued at $82,000 after buying an additional 322 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Trade Desk by 31.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 13,949 shares of the technology company’s stock worth $1,004,000 after buying an additional 3,367 shares in the last quarter. Great Lakes Advisors LLC boosted its position in Trade Desk by 11.5% during the fourth quarter. Great Lakes Advisors LLC now owns 7,042 shares of the technology company’s stock worth $507,000 after acquiring an additional 724 shares during the last quarter. Finally, Financial Advocates Investment Management grew its stake in Trade Desk by 18.0% during the 4th quarter. Financial Advocates Investment Management now owns 5,818 shares of the technology company’s stock valued at $419,000 after acquiring an additional 886 shares in the last quarter. 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.