Trade Desk (NASDAQ:TTD) Downgraded to Sell Rating by New Street Research

New Street Research lowered shares of Trade Desk (NASDAQ:TTD) from a neutral rating to a sell rating in a research note published on Tuesday, Marketbeat reports. They currently have $86.00 price target on the technology company’s stock.

A number of other analysts have also recently commented on TTD. Royal Bank of Canada boosted their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Stifel Nicolaus boosted their price target on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Robert W. Baird boosted their price target 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. Susquehanna boosted 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. Finally, Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Performance

TTD opened at $120.21 on Tuesday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $123.85. The company has a fifty day moving average of $110.15 and a two-hundred day moving average of $99.05. The stock has a market capitalization of $59.09 billion, a price-to-earnings ratio of 240.42, a PEG ratio of 5.86 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million during 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 company’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. On average, equities research analysts forecast that Trade Desk will post 0.86 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares in the company, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares of the company’s stock, valued at $9,887,713. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock worth $170,121,565 in the last 90 days. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently added to or reduced their stakes in TTD. Brookstone Capital Management increased its holdings in Trade Desk by 33.6% during the 1st quarter. Brookstone Capital Management now owns 4,477 shares of the technology company’s stock valued at $391,000 after acquiring an additional 1,126 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Trade Desk by 3.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock valued at $165,937,000 after acquiring an additional 59,161 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Trade Desk during the first quarter worth about $807,000. First Trust Direct Indexing L.P. grew its holdings in shares of Trade Desk by 11.9% during the first quarter. First Trust Direct Indexing L.P. now owns 14,383 shares of the technology company’s stock worth $1,257,000 after buying an additional 1,527 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Trade Desk by 2.8% during the first quarter. Maryland State Retirement & Pension System now owns 34,583 shares of the technology company’s stock worth $2,779,000 after buying an additional 935 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.