Trade Desk (NASDAQ:TTD) Earns Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a report published on Monday, RTT News reports. The brokerage currently has a $110.00 price objective on the technology company’s stock.

A number of other brokerages also recently weighed in on TTD. Loop Capital increased their price objective on shares of Trade Desk from $102.00 to $109.00 and gave the company a buy rating in a research report on Thursday, May 16th. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of Trade Desk in a research note on Tuesday, July 9th. Stifel Nicolaus upped their price target on Trade Desk from $100.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Citigroup lifted their price objective on shares of Trade Desk from $110.00 to $112.00 and gave the company a buy rating in a research report on Thursday, May 9th. Finally, Piper Sandler restated an overweight rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $100.38.

Trade Desk Stock Performance

TTD opened at $89.32 on Monday. The stock’s 50 day moving average price is $96.74 and its 200-day moving average price is $85.57. Trade Desk has a 52-week low of $60.23 and a 52-week high of $102.67. The stock has a market capitalization of $43.69 billion, a PE ratio of 223.31, a price-to-earnings-growth ratio of 5.14 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. Research analysts forecast that Trade Desk will post 0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total value of $6,335,250.00. Following the completion of the transaction, the chief executive officer now directly owns 824,022 shares in the company, valued at $69,605,138.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the completion of the transaction, the chief executive officer now directly owns 824,022 shares of the company’s stock, valued at approximately $69,605,138.34. The disclosure for this sale can be found here. Insiders have sold 363,909 shares of company stock valued at $33,547,601 over the last ninety days. Company insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC raised its position in shares of Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares in the last quarter. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $255,316,000. 1832 Asset Management L.P. purchased a new position in Trade Desk during the 1st quarter worth $225,710,000. ARK Investment Management LLC raised its holdings in Trade Desk by 1,162.0% during the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock worth $154,689,000 after purchasing an additional 1,979,319 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Trade Desk by 6,600.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock worth $78,549,000 after buying an additional 1,075,269 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.