Trade Desk (NASDAQ:TTD) Shares Up 2% on Analyst Upgrade

The Trade Desk (NASDAQ:TTD)’s stock price shot up 2% on Tuesday after Stifel Nicolaus raised their price target on the stock from $87.00 to $95.00. Stifel Nicolaus currently has a buy rating on the stock. Trade Desk traded as high as $81.77 and last traded at $81.63. 1,969,087 shares were traded during mid-day trading, a decline of 72% from the average session volume of 7,137,698 shares. The stock had previously closed at $80.03.

A number of other equities research analysts also recently weighed in on TTD. Wedbush reiterated an “outperform” rating and issued a $86.00 target price on shares of Trade Desk in a report on Tuesday, July 15th. HSBC set a $75.00 price objective on Trade Desk and gave the stock a “buy” rating in a report on Wednesday, April 23rd. DA Davidson decreased their target price on Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Citizens Jmp reduced their price objective on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Finally, JMP Securities restated a “market outperform” rating and set a $100.00 target price on shares of Trade Desk in a report on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.73.

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer owned 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC lifted its stake in Trade Desk by 2.6% in the 1st quarter. Ashton Thomas Securities LLC now owns 5,760 shares of the technology company’s stock worth $315,000 after purchasing an additional 144 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Trade Desk by 17.2% during the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock valued at $120,000 after buying an additional 150 shares during the period. Tradition Wealth Management LLC raised its position in shares of Trade Desk by 2.4% during the 1st quarter. Tradition Wealth Management LLC now owns 6,349 shares of the technology company’s stock valued at $347,000 after buying an additional 150 shares during the period. HighMark Wealth Management LLC raised its position in shares of Trade Desk by 46.2% during the 2nd quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock valued at $34,000 after buying an additional 151 shares during the period. Finally, Meiji Yasuda Life Insurance Co increased its holdings in Trade Desk by 2.8% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 5,857 shares of the technology company’s stock valued at $320,000 after purchasing an additional 157 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Trading Up 2.0%

The company’s fifty day moving average is $74.04 and its two-hundred day moving average is $76.36. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 99.60, a P/E/G ratio of 3.66 and a beta of 1.36.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Trade Desk’s revenue for the quarter was up 25.4% compared to the same quarter last year. Analysts predict that The Trade Desk will post 1.06 EPS for the current year.

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.