Moffett Nathanson Initiates Coverage on Trade Desk (NASDAQ:TTD)

Investment analysts at Moffett Nathanson assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $100.00 price target on the technology company’s stock. Moffett Nathanson’s price objective suggests a potential downside of 9.74% from the company’s previous close.

Several other equities research analysts have also commented on the company. Benchmark upped their price objective on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 9th. Wolfe Research began coverage on shares of Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. Oppenheimer upped their target price on shares of Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Robert W. Baird upped their target price on shares of Trade Desk from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Trade Desk in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $108.71.

Trade Desk Stock Up 2.1 %

Shares of NASDAQ TTD opened at $110.79 on Monday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $111.80. The firm has a market cap of $54.19 billion, a P/E ratio of 276.98, a PEG ratio of 5.07 and a beta of 1.48. The company has a 50 day moving average of $99.11 and a 200 day moving average of $93.47.

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 analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million during 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 quarterly revenue was up 25.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, equities analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the completion of the sale, the chief executive officer now owns 565,180 shares of the company’s stock, valued at $61,423,762.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $108.68, for a total transaction of $21,736,000.00. Following the transaction, the chief executive officer now directly owns 565,180 shares in the company, valued at $61,423,762.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,872 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. The disclosure for this sale can be found here. Insiders sold 996,748 shares of company stock valued at $104,640,053 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Trade Desk by 1,277.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 41,719 shares of the technology company’s stock valued at $4,075,000 after purchasing an additional 38,691 shares during the last quarter. Lazari Capital Management Inc. acquired a new position in Trade Desk in the 2nd quarter valued at about $316,000. Sanctuary Advisors LLC acquired a new position in Trade Desk in the 2nd quarter valued at about $4,214,000. Strategic Investment Solutions Inc. IL acquired a new position in Trade Desk in the 2nd quarter valued at about $72,000. Finally, Clearbridge Investments LLC boosted its holdings in Trade Desk by 5.1% in the 2nd quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock valued at $46,786,000 after purchasing an additional 23,073 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.