Needham & Company LLC Reaffirms “Buy” Rating for Trade Desk (NASDAQ:TTD)

Needham & Company LLC reiterated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research note released on Tuesday, Benzinga reports. They currently have a $100.00 price objective on the technology company’s stock.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Trade Desk from $105.00 to $110.00 and gave the stock an outperform rating in a report on Thursday, May 9th. Jefferies Financial Group raised shares of Trade Desk from a hold rating to a buy rating and boosted their price target for the stock from $95.00 to $105.00 in a report on Thursday, May 2nd. Citigroup boosted their price target on shares of Trade Desk from $110.00 to $112.00 and gave the stock a buy rating in a report on Thursday, May 9th. Wedbush began coverage on shares of Trade Desk in a report on Monday, June 17th. They issued an outperform rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of Trade Desk from $100.00 to $105.00 and gave the stock a buy rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $93.69.

Trade Desk Trading Up 0.9 %

Shares of TTD stock opened at $99.48 on Tuesday. The firm has a market capitalization of $48.66 billion, a PE ratio of 248.71, a price-to-earnings-growth ratio of 5.11 and a beta of 1.48. The firm has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $84.04. Trade Desk has a 12 month low of $60.23 and a 12 month high of $102.67.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. On average, equities analysts predict that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 2,600 shares of Trade Desk stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the transaction, the chief executive officer now directly owns 974,022 shares of the company’s stock, valued at $84,165,241.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $86.41, for a total transaction of $224,666.00. Following the completion of the transaction, the chief executive officer now owns 974,022 shares in the company, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold 365,154 shares of company stock valued at $33,638,976 over the last three months. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Trade Desk by 91.7% in the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after purchasing an additional 6,978,352 shares during the last quarter. Norges Bank bought a new position in shares of Trade Desk in the fourth quarter worth approximately $255,316,000. 1832 Asset Management L.P. bought a new stake in Trade Desk in the first quarter valued at $225,710,000. Finally, Jericho Capital Asset Management L.P. boosted its holdings in Trade Desk by 4.3% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after acquiring an additional 100,000 shares in the last quarter. Institutional investors 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.