Trade Desk (NASDAQ:TTD) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Trade Desk (NASDAQ:TTD) in a research report released on Monday morning, Benzinga reports. The brokerage currently has a $110.00 price objective on the technology company’s stock.

Several other research firms have also recently commented on TTD. Benchmark upped their target price on shares of Trade Desk from $49.00 to $57.00 and gave the stock a sell rating in a research report on Friday, August 9th. Macquarie reissued an outperform rating and issued a $115.00 price objective on shares of Trade Desk in a report on Friday, August 9th. Wedbush restated an outperform rating and issued a $115.00 target price (up from $110.00) on shares of Trade Desk in a research report on Thursday, September 12th. Bank of America assumed coverage on Trade Desk in a research report on Wednesday, September 4th. They set a buy rating and a $135.00 price target for the company. Finally, Piper Sandler reissued an overweight rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $108.71.

Trade Desk Trading Down 1.2 %

NASDAQ:TTD opened at $109.36 on Monday. The stock has a 50 day moving average of $99.70 and a 200-day moving average of $93.70. The firm has a market capitalization of $53.76 billion, a PE ratio of 273.41, a price-to-earnings-growth ratio of 5.33 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $112.22.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In other news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the transaction, the director now directly owns 29,991 shares of the company’s stock, valued at $3,269,019. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction dated 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 approximately $39,682,694.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the sale, the director now owns 29,991 shares of the company’s stock, valued at $3,269,019. The disclosure for this sale can be found here. Insiders sold 856,669 shares of company stock worth $91,009,247 in the last quarter. 10.18% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in TTD. Global Assets Advisory LLC acquired a new stake in shares of Trade Desk during the 1st quarter valued at about $2,626,000. Franklin Resources Inc. lifted its stake in Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after acquiring an additional 53,441 shares during the last quarter. Nordea Investment Management AB lifted its stake in Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after acquiring an additional 70,201 shares during the last quarter. Nicholas Company Inc. grew its position in Trade Desk by 64.9% in the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after acquiring an additional 305,615 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in shares of Trade Desk during the 1st quarter worth $3,011,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.