Trade Desk (NASDAQ:TTD) Given New $135.00 Price Target at Truist Financial

Trade Desk (NASDAQ:TTD) had its price target raised by Truist Financial from $120.00 to $135.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. StockNews.com upgraded shares of Trade Desk from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Citigroup upped their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Finally, BTIG Research raised their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $120.69.

Trade Desk Stock Performance

Trade Desk stock traded down $7.40 during mid-day trading on Friday, hitting $125.13. 13,646,214 shares of the company traded hands, compared to its average volume of 3,818,373. Trade Desk has a one year low of $60.23 and a one year high of $132.65. The stock has a market cap of $61.51 billion, a price-to-earnings ratio of 205.13, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47. The stock has a fifty day moving average price of $112.83 and a 200-day moving average price of $101.00.

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

Insider Buying and Selling

In other news, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the sale, the insider now owns 99,374 shares in the company, valued at $9,887,713. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of Trade Desk stock in a transaction on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock worth $170,121,565 in the last 90 days. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC bought a new position in Trade Desk in the 2nd quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new stake in Trade Desk during the 2nd quarter valued at $37,000. Avior Wealth Management LLC grew its holdings in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the last quarter. Quarry LP purchased a new stake in Trade Desk in the 2nd quarter worth about $41,000. Finally, Brown Lisle Cummings Inc. lifted its stake in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 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.