Trade Desk (NASDAQ:TTD) PT Raised to $120.00

Trade Desk (NASDAQ:TTD) had its target price increased by Truist Financial from $108.00 to $120.00 in a research report report published on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the technology company’s stock.

TTD has been the topic of a number of other research reports. Stifel Nicolaus reiterated a buy rating and set a $111.00 target price (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. BTIG Research lifted their price objective on shares of Trade Desk from $110.00 to $114.00 and gave the company a buy rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued a neutral rating and set a $110.00 price target on shares of Trade Desk in a report on Monday, September 30th. Wolfe Research began coverage on Trade Desk in a research note on Tuesday, July 16th. They set an outperform rating and a $115.00 price objective for the company. Finally, Piper Sandler reiterated an overweight rating and issued a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $109.89.

Trade Desk Stock Up 1.4 %

NASDAQ:TTD opened at $113.00 on Wednesday. The company has a market cap of $55.27 billion, a price-to-earnings ratio of 282.50, a price-to-earnings-growth ratio of 5.23 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $113.84. The company has a fifty day simple moving average of $101.52 and a two-hundred day simple moving average of $95.00.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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. 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%. The company’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the business earned $0.07 EPS. On average, analysts expect that Trade Desk will post 0.86 EPS for the current year.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 20,579 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the transaction, the insider now directly owns 178,853 shares in the company, valued at approximately $19,432,378.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Jay R. Grant sold 20,579 shares of Trade Desk stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $108.65, for a total transaction of $2,235,908.35. Following the completion of the transaction, the insider now directly owns 178,853 shares in the company, valued at $19,432,378.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 200,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $110.54, for a total value of $22,108,000.00. Following the sale, the chief executive officer now owns 365,180 shares in the company, valued at approximately $40,366,997.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,077,248 shares of company stock worth $115,353,156. 10.18% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its holdings in shares of Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares during the last quarter. Riverview Trust Co purchased a new position in Trade Desk during the first quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in Trade Desk in the 2nd quarter worth about $30,000. Jones Financial Companies Lllp increased its stake in shares of Trade Desk by 889.4% during the 4th 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 last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of Trade Desk in the second quarter worth approximately $37,000. 67.77% of the stock is currently 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.