Trade Desk (NASDAQ:TTD) Sees Large Volume Increase After Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD) saw unusually-strong trading volume on Friday after UBS Group raised their price target on the stock from $116.00 to $148.00. UBS Group currently has a buy rating on the stock. Approximately 5,734,745 shares traded hands during trading, a decline of 1% from the previous session’s volume of 5,814,726 shares.The stock last traded at $81.57 and had previously closed at $81.92.

Several other brokerages have also weighed in on TTD. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. KeyCorp raised their price objective on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. BMO Capital Markets decreased their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup lowered their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday. Finally, New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.77.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after buying an additional 1,720,650 shares during the period. Jennison Associates LLC grew its holdings in shares of Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Edgewood Management LLC increased its position in Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. Finally, Invesco Ltd. raised its stake in Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after acquiring an additional 198,822 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

The business has a 50-day simple moving average of $120.93 and a two-hundred day simple moving average of $115.40. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Research analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.