Trade Desk (NASDAQ:TTD) Downgraded by New Street Research to “Sell”

Trade Desk (NASDAQ:TTD) was downgraded by research analysts at New Street Research from a “neutral” rating to a “sell” rating in a report released on Tuesday, MarketBeat Ratings reports. They presently have a $86.00 price target on the technology company’s stock. New Street Research’s price objective would indicate a potential downside of 27.72% from the stock’s previous close.

TTD has been the subject of several other research reports. Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Benchmark lifted their target price on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 9th. Wells Fargo & Company started coverage on shares of Trade Desk in a research report on Monday. They issued an “overweight” rating and a $150.00 target price on the stock. Macquarie lifted their target price on shares of Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, Wolfe Research started coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.56.

Trade Desk Stock Down 0.4 %

NASDAQ:TTD opened at $118.98 on Tuesday. The firm has a 50 day moving average of $109.41 and a 200 day moving average of $98.64. The stock has a market capitalization of $58.20 billion, a price-to-earnings ratio of 297.45, a PEG ratio of 5.75 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $121.44.

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 analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts expect that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares in the company, valued at $3,375,898.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $115.43, for a total value of $2,885,750.00. Following the completion of the sale, the chief financial officer now owns 693,953 shares in the company, valued at $80,102,994.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now owns 28,636 shares of the company’s stock, valued at $3,375,898.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock valued at $170,121,565 in the last ninety days. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. purchased a new position in Trade Desk during the 1st quarter valued at about $225,710,000. International Assets Investment Management LLC grew its holdings in shares of Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Trade Desk by 100.2% during the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after buying an additional 872,555 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Trade Desk by 3,973.6% during the second quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after buying an additional 437,967 shares in the last quarter. Finally, Steadfast Capital Management LP grew its holdings in shares of Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after buying an additional 431,600 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.