Trade Desk (NASDAQ:TTD) Receives New Coverage from Analysts at Bank of America

Bank of America began coverage on shares of Trade Desk (NASDAQ:TTD) in a report released on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $135.00 target price on the technology company’s stock.

Several other research firms also recently weighed in on TTD. BMO Capital Markets reiterated an outperform rating and issued a $108.00 target price (up previously from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Oppenheimer increased their target price on Trade Desk from $105.00 to $120.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Benchmark raised their target price on Trade Desk from $49.00 to $57.00 and gave the company a sell rating in a report on Friday, August 9th. Royal Bank of Canada lifted their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the company an outperform rating in a report on Friday, August 9th. Finally, Citigroup increased their target price on shares of Trade Desk from $112.00 to $115.00 and gave the stock a buy rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $108.81.

Trade Desk Stock Up 0.4 %

NASDAQ:TTD opened at $101.35 on Wednesday. Trade Desk has a 52 week low of $60.23 and a 52 week high of $105.39. The stock’s fifty day moving average is $97.46 and its two-hundred day moving average is $91.26. The company has a market capitalization of $49.57 billion, a P/E ratio of 253.38, a P/E/G ratio of 5.30 and a beta of 1.48.

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 the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. Trade Desk’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. Sell-side analysts anticipate that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now directly owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 642,868 shares of company stock worth $65,415,112. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. acquired a new position in Trade Desk in the 1st quarter valued at $225,710,000. Marshall Wace LLP raised its position in Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after acquiring an additional 818,568 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its holdings in shares of Trade Desk by 138.3% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 765,157 shares of the technology company’s stock valued at $55,053,000 after acquiring an additional 444,032 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.