Citizens Jmp Upgrades Trade Desk (NASDAQ:TTD) to “Strong-Buy”

Citizens Jmp upgraded shares of Trade Desk (NASDAQ:TTD) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other research analysts have also issued reports about the stock. DA Davidson lifted their price objective on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird upped their price objective on Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark reiterated a “sell” rating and issued a $57.00 target price on shares of Trade Desk in a research note on Friday, November 8th. UBS Group upped their price target on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Stock Down 3.1 %

Shares of NASDAQ TTD opened at $120.69 on Tuesday. The business has a 50-day moving average price of $125.93 and a 200 day moving average price of $113.29. The stock has a market cap of $59.57 billion, a PE ratio of 197.85, a price-to-earnings-growth ratio of 3.94 and a beta of 1.45. Trade Desk has a 52-week low of $66.56 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). The firm had revenue of $628.02 million during the quarter, compared to analyst estimates of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same period in the previous year, the company posted $0.08 earnings per share. Sell-side analysts anticipate that Trade Desk will post 0.87 earnings per share for the current year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently modified their holdings of the company. BOCHK Asset Management Ltd grew its stake in shares of Trade Desk by 271.3% during the 4th quarter. BOCHK Asset Management Ltd now owns 116,600 shares of the technology company’s stock valued at $13,704,000 after buying an additional 85,200 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Trade Desk by 8.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 121,609 shares of the technology company’s stock valued at $14,293,000 after acquiring an additional 9,973 shares in the last quarter. Deane Retirement Strategies Inc. boosted its stake in shares of Trade Desk by 1.3% in the fourth quarter. Deane Retirement Strategies Inc. now owns 33,015 shares of the technology company’s stock valued at $3,880,000 after purchasing an additional 423 shares during the period. Perigon Wealth Management LLC grew its holdings in Trade Desk by 21.6% during the 4th quarter. Perigon Wealth Management LLC now owns 5,581 shares of the technology company’s stock valued at $674,000 after purchasing an additional 992 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. lifted its holdings in Trade Desk by 10.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company’s stock worth $6,128,000 after buying an additional 4,878 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.