Trade Desk (NASDAQ:TTD) Stock Rating Lowered by StockNews.com

Trade Desk (NASDAQ:TTD) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities research analysts have also issued reports on the company. Macquarie reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Trade Desk in a research note on Friday, August 9th. BTIG Research raised their price objective on Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective (up from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada raised their price objective on Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and an average price target of $108.71.

Trade Desk Trading Down 0.1 %

NASDAQ:TTD opened at $110.72 on Tuesday. The stock has a 50-day moving average price of $99.42 and a 200 day moving average price of $93.59. Trade Desk has a 12-month low of $60.23 and a 12-month high of $111.80. The stock has a market capitalization of $54.43 billion, a P/E ratio of 276.81, a P/E/G ratio of 5.22 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million during the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. On average, research analysts predict 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 283,429 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of Trade Desk stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value 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 approximately $39,682,694.40. The disclosure for this sale can be found here. Insiders sold 996,748 shares of company stock valued at $104,640,053 in the last quarter. 10.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after buying an additional 818,568 shares during the period. 1832 Asset Management L.P. increased its stake in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock worth $278,623,000 after buying an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Trade Desk by 10.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after buying an additional 209,222 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake 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 worth $165,937,000 after buying an additional 59,161 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.