Trade Desk (NASDAQ:TTD) Stock Price Up 1.7%

The Trade Desk, Inc. (NASDAQ:TTD) shares traded up 1.7% on Thursday . The company traded as high as $97.86 and last traded at $96.88. 522,530 shares changed hands during trading, a decline of 87% from the average session volume of 4,116,653 shares. The stock had previously closed at $95.24.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Royal Bank of Canada raised their price objective 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. Oppenheimer raised their price target on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $105.00 in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.08.

Trade Desk Trading Up 1.0 %

The business has a 50 day moving average price of $95.87 and a 200-day moving average price of $84.65. The company has a market cap of $47.04 billion, a P/E ratio of 237.93, a PEG ratio of 5.17 and a beta of 1.48.

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

Insider Activity

In other news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction 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 sale, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Insiders sold a total of 362,554 shares of company stock valued at $33,414,310 over the last three months. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its stake in Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co purchased a new position in Trade Desk in the 1st quarter worth approximately $27,000. Bogart Wealth LLC increased its stake in Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Trade Desk during the 2nd quarter valued at about $43,000. Finally, Level Financial Advisors Inc. raised its stake in shares of Trade Desk by 50.0% during the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.