Trade Desk (NASDAQ:TTD) Upgraded at StockNews.com

StockNews.com upgraded shares of Trade Desk (NASDAQ:TTD) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other research firms have also weighed in on TTD. Piper Sandler reissued an overweight rating and issued a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. Moffett Nathanson began coverage on Trade Desk in a research report on Monday, September 23rd. They issued a neutral rating and a $100.00 price objective for the company. Loop Capital increased their target price on Trade Desk from $109.00 to $120.00 and gave the stock a buy rating in a research note on Monday, August 26th. Bank of America assumed coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They issued a buy rating and a $135.00 price target on the stock. Finally, Cantor Fitzgerald reissued a neutral rating and set a $110.00 price objective on shares of Trade Desk in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $109.89.

Trade Desk Trading Up 1.4 %

Trade Desk stock opened at $113.00 on Wednesday. The firm has a market capitalization of $55.27 billion, a P/E ratio of 282.50, a PEG ratio of 5.23 and a beta of 1.48. The business has a 50-day moving average of $101.52 and a 200-day moving average of $95.00. Trade Desk has a 1 year low of $60.23 and a 1 year high of $113.84.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Research analysts anticipate that Trade Desk will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $70,606,106.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $70,606,106.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at $9,887,713. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,077,248 shares of company stock valued at $115,353,156 over the last 90 days. 10.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Large investors have recently made changes to their positions in the company. 1832 Asset Management L.P. acquired a new position in Trade Desk in the 1st quarter valued at $225,710,000. Marshall Wace LLP grew its stake in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after acquiring an additional 872,555 shares in the last quarter. Vanguard Group Inc. grew its stake 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 valued at $3,003,666,000 after acquiring an additional 818,568 shares in the last quarter. Acadian Asset Management LLC increased its position in Trade Desk by 3,973.6% during the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after acquiring an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP raised its stake in Trade Desk by 78.3% in the 1st quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after purchasing an additional 431,600 shares in the last quarter. 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.