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

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also recently weighed in on TTD. KeyCorp boosted their price objective on shares of Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Needham & Company LLC upped their price target on shares of Trade Desk from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Macquarie restated an “outperform” rating and set a $115.00 price objective on shares of Trade Desk in a research note on Friday, August 9th. Finally, Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Trade Desk Stock Up 1.0 %

Shares of NASDAQ TTD traded up $1.02 during trading on Friday, hitting $104.53. 2,131,957 shares of the company traded hands, compared to its average volume of 4,070,827. Trade Desk has a 1 year low of $60.23 and a 1 year high of $105.39. The firm has a market capitalization of $51.13 billion, a P/E ratio of 261.33, a P/E/G ratio of 5.27 and a beta of 1.48. The company has a 50-day moving average price of $97.15 and a 200-day moving average price of $90.66.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm posted $0.07 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. Research analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the completion of the transaction, the director now owns 34,056 shares in the company, valued at $3,334,763.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 642,868 shares of company stock valued at $65,415,112. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently made changes to their positions in the stock. Choreo LLC grew its position in shares of Trade Desk by 2.2% during the fourth quarter. Choreo LLC now owns 7,491 shares of the technology company’s stock worth $539,000 after acquiring an additional 158 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Trade Desk by 8.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 3,093 shares of the technology company’s stock valued at $223,000 after purchasing an additional 242 shares during the period. Savant Capital LLC increased its stake in shares of Trade Desk by 3.8% in the fourth quarter. Savant Capital LLC now owns 14,310 shares of the technology company’s stock valued at $1,030,000 after purchasing an additional 523 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Trade Desk by 81.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock valued at $105,472,000 after buying an additional 659,337 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Trade Desk by 6.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 12,856 shares of the technology company’s stock worth $925,000 after buying an additional 797 shares during the period. 67.77% of the stock is owned by institutional investors.

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.