Trade Desk (NASDAQ:TTD) Reaches New 1-Year High at $102.77

The Trade Desk, Inc. (NASDAQ:TTD)’s share price reached a new 52-week high on Monday . The stock traded as high as $102.77 and last traded at $102.64, with a volume of 2469763 shares traded. The stock had previously closed at $101.43.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TTD. Loop Capital boosted their price target on shares of Trade Desk from $102.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Wolfe Research initiated coverage on Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $108.00 price target (up previously from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Piper Sandler reissued an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a research report on Tuesday, June 11th. Finally, Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $107.26.

Trade Desk Price Performance

The company has a market cap of $50.20 billion, a price-to-earnings ratio of 255.53, a P/E/G ratio of 5.01 and a beta of 1.48. The firm has a fifty day simple moving average of $95.73 and a 200 day simple moving average of $88.58.

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

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,909 shares of company stock worth $20,827,601. Company insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently modified their holdings of TTD. Pinnacle Bancorp Inc. raised its stake in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co bought a new stake in Trade Desk in the 1st quarter valued at $27,000. Bogart Wealth LLC raised its stake in shares of Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Trade Desk during the 2nd quarter worth about $30,000. Finally, Jones Financial Companies Lllp increased its stake in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. Institutional investors 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.