Trade Desk (NASDAQ:TTD) Trading 1.4% Higher

The Trade Desk, Inc. (NASDAQ:TTD) traded up 1.4% during mid-day trading on Thursday . The stock traded as high as $91.91 and last traded at $91.11. 570,496 shares changed hands during trading, a decline of 86% from the average session volume of 4,097,785 shares. The stock had previously closed at $89.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. KeyCorp raised their target price on Trade Desk from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. DA Davidson upped their price target on Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Trade Desk in a research note on Monday, July 22nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research note on Thursday, July 25th. Finally, Citigroup increased 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.17.

Trade Desk Price Performance

The business’s 50 day moving average is $96.20 and its 200-day moving average is $86.40. The company has a market cap of $40.64 billion, a PE ratio of 207.71, a P/E/G ratio of 4.49 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 0.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Laura Schenkein sold 43,705 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $67,055,764.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $97.92, for a total value of $236,476.80. Following the transaction, the director now directly owns 34,056 shares of the company’s stock, valued at $3,334,763.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,909 shares of company stock valued at $20,827,601. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of large investors have recently made changes to their positions in the stock. SouthState Corp purchased a new stake in Trade Desk in the 2nd quarter worth approximately $254,000. Mayflower Financial Advisors LLC lifted its position in Trade Desk by 3.2% during the second quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock worth $409,000 after buying an additional 129 shares during the period. TD Asset Management Inc boosted its stake in Trade Desk by 10.7% in the 2nd quarter. TD Asset Management Inc now owns 1,592,578 shares of the technology company’s stock worth $155,547,000 after buying an additional 153,748 shares during the last quarter. Stablepoint Partners LLC grew its holdings in Trade Desk by 7.8% in the second quarter. Stablepoint Partners LLC now owns 12,377 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 899 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in shares of Trade Desk by 334.2% during the 2nd quarter. Belpointe Asset Management LLC now owns 14,071 shares of the technology company’s stock valued at $1,374,000 after buying an additional 10,830 shares during the period. 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.