Macquarie Boosts Trade Desk (NASDAQ:TTD) Price Target to $133.00

Trade Desk (NASDAQ:TTD) had its price target boosted by equities researchers at Macquarie from $130.00 to $133.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Macquarie’s target price would indicate a potential upside of 6.29% from the stock’s previous close.

TTD has been the subject of several other research reports. Robert W. Baird increased their target price on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America initiated coverage on Trade Desk in a research report on Wednesday, September 4th. They set a “buy” rating and a $135.00 target price for the company. StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.69.

Trade Desk Stock Performance

NASDAQ:TTD opened at $125.13 on Friday. Trade Desk has a 1 year low of $60.23 and a 1 year high of $132.65. The stock has a market cap of $61.51 billion, a price-to-earnings ratio of 205.13, a PEG ratio of 6.00 and a beta of 1.47. The business has a fifty day moving average of $112.83 and a 200-day moving average of $101.14.

Trade Desk (NASDAQ:TTD) last posted its quarterly 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 return on equity of 11.40% and a net margin of 11.65%. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Trade Desk’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts predict that Trade Desk will post 0.86 EPS for the current year.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrea Lee Cunningham sold 1,606 shares of Trade Desk stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock valued at $170,121,565 over the last ninety days. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CAP Partners LLC increased its holdings in shares of Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after purchasing an additional 86 shares during the period. Allworth Financial LP boosted its position in Trade Desk by 2.7% during the third quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock worth $410,000 after purchasing an additional 97 shares in the last quarter. Apella Capital LLC lifted its position in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after acquiring an additional 100 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Trade Desk by 37.7% in the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in shares of Trade Desk by 1.0% in the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock valued at $1,083,000 after purchasing an additional 102 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.