Trade Desk (NASDAQ:TTD) Coverage Initiated at Wolfe Research

Wolfe Research started coverage on shares of Trade Desk (NASDAQ:TTD) in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $115.00 target price on the technology company’s stock.

TTD has been the subject of several other reports. DA Davidson raised their price objective on shares of Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Wedbush began coverage on shares of Trade Desk in a research report on Monday, June 17th. They set an outperform rating and a $110.00 price target for the company. BMO Capital Markets reiterated an outperform rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Loop Capital lifted their price target on shares of Trade Desk from $102.00 to $109.00 and gave the company a buy rating in a research report on Thursday, May 16th. Finally, Jefferies Financial Group upgraded shares of Trade Desk from a hold rating to a buy rating and lifted their price target for the company from $95.00 to $105.00 in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $98.72.

Trade Desk Trading Up 0.5 %

NASDAQ:TTD opened at $95.72 on Tuesday. The company’s 50-day moving average price is $96.01 and its 200-day moving average price is $84.73. The company has a market cap of $46.82 billion, a P/E ratio of 239.30, a P/E/G ratio of 5.17 and a beta of 1.48. Trade Desk has a twelve month low of $60.23 and a twelve month high of $102.67.

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

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $85.13, for a total transaction of $6,384,750.00. Following the completion of the sale, the chief executive officer now owns 899,022 shares in the company, valued at approximately $76,533,742.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $85.13, for a total value of $6,384,750.00. Following the completion of the sale, the chief executive officer now owns 899,022 shares in the company, valued at approximately $76,533,742.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 25,000 shares of the company’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 completion of the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. Insiders sold 362,554 shares of company stock worth $33,414,310 over the last 90 days. 10.18% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently bought and sold shares of the business. Brookstone Capital Management increased its stake in Trade Desk by 3.0% in the 2nd quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock valued at $439,000 after buying an additional 135 shares during the period. Blue Trust Inc. boosted its position in shares of Trade Desk by 286.9% in the 2nd quarter. Blue Trust Inc. now owns 1,327 shares of the technology company’s stock worth $130,000 after buying an additional 984 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Trade Desk in the 2nd quarter valued at about $234,000. 17 Capital Partners LLC lifted its holdings in Trade Desk by 3.9% in the 2nd quarter. 17 Capital Partners LLC now owns 4,630 shares of the technology company’s stock valued at $452,000 after purchasing an additional 175 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Trade Desk by 34.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 134,877 shares of the technology company’s stock valued at $13,173,000 after purchasing an additional 34,496 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.