Trade Desk (NASDAQ:TTD) Sets New 12-Month High at $106.60

The Trade Desk, Inc. (NASDAQ:TTD)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $106.60 and last traded at $106.60, with a volume of 54917 shares. The stock had previously closed at $104.50.

Analyst Ratings Changes

Several research firms recently commented on TTD. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, September 7th. Wedbush restated an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a report on Thursday. Robert W. Baird lifted their target price on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Macquarie restated an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a research note on Friday, August 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.05.

Trade Desk Price Performance

The firm has a market capitalization of $52.53 billion, a PE ratio of 261.26, a P/E/G ratio of 4.89 and a beta of 1.48. The business has a 50-day simple moving average of $97.82 and a 200-day simple moving average of $91.95.

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

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares in the company, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders sold 599,163 shares of company stock worth $61,246,529 in the last 90 days. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several large investors have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. acquired a new stake in shares of Trade Desk during the second quarter worth about $316,000. Sanctuary Advisors LLC acquired a new position in Trade Desk during the second quarter valued at $4,214,000. Strategic Investment Solutions Inc. IL purchased a new stake in Trade Desk in the second quarter valued at $72,000. Clearbridge Investments LLC grew its position in Trade Desk by 5.1% during the 2nd quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock worth $46,786,000 after purchasing an additional 23,073 shares during the period. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Trade Desk by 4.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 6,667 shares of the technology company’s stock valued at $651,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors 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.