Trade Desk (NASDAQ:TTD) Reaches New 12-Month High After Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD) hit a new 52-week high during trading on Thursday after Macquarie raised their price target on the stock from $115.00 to $130.00. Macquarie currently has an outperform rating on the stock. Trade Desk traded as high as $116.40 and last traded at $116.31, with a volume of 521544 shares trading hands. The stock had previously closed at $115.57.

Several other research analysts have also weighed in on TTD. Morgan Stanley upped their price objective on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Susquehanna lifted their target price on shares of Trade Desk from $110.00 to $135.00 and gave the company a “positive” rating in a research note on Friday, August 9th. Moffett Nathanson started coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Needham & Company LLC raised their price target on shares of Trade Desk from $115.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price objective on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $111.05.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at $9,887,713. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the transaction, the chief executive officer now owns 7,330 shares in the company, valued at approximately $846,615. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,897 shares of company stock worth $170,095,115 in the last three months. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Large investors have recently bought and sold shares of the business. Apella Capital LLC raised its holdings 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 purchasing an additional 100 shares during the last quarter. Wealth Alliance grew its holdings in shares of Trade Desk by 0.6% in the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock valued at $1,810,000 after acquiring an additional 106 shares in the last quarter. Parisi Gray Wealth Management increased its position in shares of Trade Desk by 2.6% in the third quarter. Parisi Gray Wealth Management now owns 4,435 shares of the technology company’s stock valued at $486,000 after acquiring an additional 111 shares during the last quarter. RFP Financial Group LLC boosted its position in Trade Desk by 26.4% during the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock valued at $54,000 after purchasing an additional 116 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA grew its stake in Trade Desk by 6.2% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,123 shares of the technology company’s stock valued at $233,000 after purchasing an additional 123 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

The stock has a market cap of $57.96 billion, a price-to-earnings ratio of 235.80, a price-to-earnings-growth ratio of 5.56 and a beta of 1.48. The company has a 50-day simple moving average of $104.17 and a two-hundred day simple moving average of $96.07.

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

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.