Trade Desk (NASDAQ:TTD) Stock Price Up 0.7% on Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD)’s share price traded up 0.7% during trading on Tuesday after Macquarie raised their price target on the stock from $90.00 to $92.00. Macquarie currently has an outperform rating on the stock. Trade Desk traded as high as $77.04 and last traded at $76.86. 1,001,725 shares changed hands during trading, a decline of 83% from the average session volume of 5,920,314 shares. The stock had previously closed at $76.32.

Several other analysts have also recently commented on the stock. Citizens Jmp reduced their target price on shares of Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Loop Capital cut their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. JMP Securities lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Wedbush reissued an “outperform” rating and issued a $86.00 price target (up from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.12.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTD. Focus Financial Network Inc. increased its position in Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after buying an additional 94 shares during the period. TFB Advisors LLC grew its stake in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares during the period. Centurion Wealth Management LLC increased its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after buying an additional 96 shares during the last quarter. Finally, Values First Advisors Inc. raised its position in shares of Trade Desk by 0.9% in the 4th quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company’s stock worth $1,398,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Up 1.0%

The stock has a market cap of $38.23 billion, a price-to-earnings ratio of 98.79, a PEG ratio of 3.11 and a beta of 1.29. The stock has a fifty day moving average of $56.90 and a two-hundred day moving average of $93.10.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period last year, the business posted $0.26 EPS. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

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.