Trade Desk (NASDAQ:TTD) Shares Up 1.8%

Shares of The Trade Desk, Inc. (NASDAQ:TTD) shot up 1.8% on Tuesday . The stock traded as high as $85.29 and last traded at $84.70. 694,944 shares traded hands during trading, a decline of 83% from the average session volume of 4,112,335 shares. The stock had previously closed at $83.22.

Analysts Set New Price Targets

A number of brokerages have weighed in on TTD. DA Davidson lifted their price target on shares of Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group raised shares of Trade Desk from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.00 to $105.00 in a research report on Thursday, May 2nd. Stifel Nicolaus lifted their price target on shares of Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Royal Bank of Canada lifted their price target on shares of Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $105.00 price target on shares of Trade Desk in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.17.

Trade Desk Stock Up 1.9 %

The stock has a market cap of $41.47 billion, a P/E ratio of 211.76, a PEG ratio of 4.26 and a beta of 1.48. The business has a 50-day simple moving average of $95.97 and a 200-day simple moving average of $86.83.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The company had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. On average, analysts predict that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at $67,055,764.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Apella Capital LLC increased its stake in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. RFP Financial Group LLC increased its stake in shares of Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock valued at $54,000 after buying an additional 116 shares in the last quarter. Diversify Advisory Services LLC increased its stake in shares of Trade Desk by 4.5% in the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock valued at $297,000 after buying an additional 127 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in Trade Desk by 3.2% in the second quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock valued at $409,000 after acquiring an additional 129 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in Trade Desk by 3.0% in the second quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock valued at $439,000 after acquiring an additional 135 shares during the last quarter. 67.77% of the stock is currently 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.