Trade Desk (NASDAQ:TTD) Given New $130.00 Price Target at Macquarie

Trade Desk (NASDAQ:TTD) had its target price upped by equities research analysts at Macquarie from $115.00 to $130.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Macquarie’s target price points to a potential upside of 12.48% from the company’s previous close.

A number of other research firms have also weighed in on TTD. Truist Financial increased their target price on shares of Trade Desk from $108.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised their price target on shares of Trade Desk from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Citigroup raised their target price on shares of Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Loop Capital raised their target price on shares of Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, BTIG Research lifted their price target on shares of Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $111.05.

Trade Desk Stock Performance

TTD stock traded down $0.13 during midday trading on Friday, reaching $115.58. 359,938 shares of the company’s stock traded hands, compared to its average volume of 3,844,229. The firm has a market capitalization of $56.82 billion, a PE ratio of 230.92, a price-to-earnings-growth ratio of 5.56 and a beta of 1.48. Trade Desk has a 52 week low of $60.23 and a 52 week high of $116.59. The company has a 50-day moving average price of $103.48 and a two-hundred day moving average price of $95.86.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. 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 previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. As a group, analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the sale, the chief executive officer now directly owns 380,832 shares in the company, valued at approximately $39,682,694.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares in the company, valued at approximately $39,682,694.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the transaction, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,452,248 shares of company stock worth $157,894,406. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of TTD. 1832 Asset Management L.P. acquired a new stake in shares of Trade Desk during the 1st quarter worth about $225,710,000. Marshall Wace LLP boosted its stake in shares of Trade Desk by 100.2% during the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after purchasing an additional 872,555 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Trade Desk by 3,973.6% during the 2nd quarter. Acadian Asset Management LLC now owns 448,989 shares of the technology company’s stock worth $43,836,000 after acquiring an additional 437,967 shares during the period. Finally, Steadfast Capital Management LP lifted its holdings in shares of Trade Desk by 78.3% during the 1st quarter. Steadfast Capital Management LP now owns 983,000 shares of the technology company’s stock worth $85,934,000 after acquiring an additional 431,600 shares during the period. Hedge funds and other institutional investors 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.