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

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

Other research analysts have also recently issued reports about the company. Oppenheimer raised their price objective on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Monday, October 7th. Benchmark raised their target price on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 9th. Royal Bank of Canada raised their target price on Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Wolfe Research began coverage on Trade Desk in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.56.

Trade Desk Stock Down 0.4 %

NASDAQ TTD opened at $118.98 on Tuesday. The stock’s 50-day simple moving average is $109.41 and its two-hundred day simple moving average is $98.64. Trade Desk has a twelve month low of $60.23 and a twelve month high of $121.44. The company 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 (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the sale, the director now directly owns 3,516 shares in the company, valued at approximately $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Laura Schenkein sold 3,130 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.33, for a total transaction of $310,902.90. Following the sale, the chief financial officer now owns 693,953 shares in the company, valued at $68,930,351.49. This represents 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 $170,121,565 in the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. bought a new position in shares of Trade Desk during the first quarter valued at approximately $225,710,000. International Assets Investment Management LLC boosted its stake 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 valued at $172,460,000 after purchasing an additional 1,558,465 shares in the last quarter. Marshall Wace LLP boosted its stake 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 valued at $170,275,000 after purchasing an additional 872,555 shares in the last quarter. Acadian Asset Management LLC lifted its position in 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 valued at $43,836,000 after acquiring an additional 437,967 shares during the last quarter. Finally, Steadfast Capital Management LP lifted its position in Trade Desk by 78.3% during the first quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock valued at $85,934,000 after acquiring an additional 431,600 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.