Trade Desk (NASDAQ:TTD) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $135.00 price target on the technology company’s stock.

A number of other research firms also recently commented on TTD. Wolfe Research started coverage on Trade Desk in a research note on Tuesday, July 16th. They issued an outperform rating and a $115.00 price target for the company. Wedbush reissued an outperform rating and set a $110.00 price target on shares of Trade Desk in a research report on Friday, August 9th. DA Davidson lifted their price objective on shares of Trade Desk from $95.00 to $104.00 and gave the stock a buy rating in a report on Thursday, May 9th. Robert W. Baird boosted their target price on shares of Trade Desk from $110.00 to $130.00 and gave the company an outperform rating in a research note on Monday, August 12th. Finally, Susquehanna raised their price target on shares of Trade Desk from $110.00 to $135.00 and gave the stock a positive rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $108.85.

Trade Desk Stock Performance

Shares of TTD opened at $100.31 on Wednesday. Trade Desk has a one year low of $60.23 and a one year high of $105.39. The stock has a 50-day moving average price of $97.62 and a 200 day moving average price of $91.43. The company has a market capitalization of $49.31 billion, a P/E ratio of 250.78, a P/E/G ratio of 5.14 and a beta of 1.48.

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, beating the consensus estimate of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts forecast that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now directly owns 99,374 shares of the company’s stock, valued at approximately $9,887,713. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,868 shares of company stock valued at $65,415,112. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in Trade Desk during the 2nd quarter worth about $4,214,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Trade Desk in the second quarter worth approximately $72,000. Clearbridge Investments LLC increased its position in shares of Trade Desk by 5.1% in the second quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock worth $46,786,000 after acquiring an additional 23,073 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Trade Desk by 4.5% during the second quarter. Dana Investment Advisors Inc. now owns 6,667 shares of the technology company’s stock valued at $651,000 after acquiring an additional 286 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Trade Desk by 3.8% in the 2nd quarter. Cetera Investment Advisers now owns 148,160 shares of the technology company’s stock valued at $14,471,000 after acquiring an additional 5,458 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.