Trade Desk (NASDAQ:TTD) Given New $115.00 Price Target at Citigroup

Trade Desk (NASDAQ:TTD) had its price target boosted by Citigroup from $112.00 to $115.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

TTD has been the topic of several other research reports. Needham & Company LLC boosted their price target on Trade Desk from $100.00 to $115.00 and gave the stock a buy rating in a research note on Friday. Stifel Nicolaus reaffirmed a buy rating and set a $111.00 price target (up previously from $105.00) on shares of Trade Desk in a research note on Friday. Wedbush reissued an outperform rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Friday. Royal Bank of Canada upped their price target on shares of Trade Desk from $110.00 to $120.00 and gave the company an outperform rating in a report on Friday. Finally, Benchmark raised their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the stock a sell rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $105.51.

Trade Desk Stock Up 12.5 %

Shares of Trade Desk stock traded up $11.03 during trading on Friday, reaching $99.30. The company’s stock had a trading volume of 13,299,325 shares, compared to its average volume of 4,207,968. Trade Desk has a 12-month low of $60.23 and a 12-month high of $102.67. The business has a 50 day moving average price of $95.34 and a 200-day moving average price of $87.40. The company has a market capitalization of $48.57 billion, a P/E ratio of 248.26, a price-to-earnings-growth ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $480.03 million. Research analysts predict that Trade Desk will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Laura Schenkein sold 43,705 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,909 shares of company stock valued at $20,827,601. Company insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new position in Trade Desk in the first quarter valued at about $2,626,000. Franklin Resources Inc. lifted its position in shares of Trade Desk by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock worth $28,346,000 after buying an additional 53,441 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after buying an additional 70,201 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Trade Desk by 30.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 66,370 shares of the technology company’s stock valued at $4,776,000 after buying an additional 15,423 shares during the last quarter. Finally, Nicholas Company Inc. grew its position in shares of Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after buying an additional 305,615 shares during 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.