Insider Selling: The Trade Desk, Inc. (NASDAQ:TTD) Director Sells 2,415 Shares of Stock

The Trade Desk, Inc. (NASDAQ:TTD) Director Gokul Rajaram sold 2,415 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $97.92, for a total value of $236,476.80. Following the transaction, the director now directly owns 34,056 shares in the company, valued at approximately $3,334,763.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Trade Desk Stock Up 2.1 %

NASDAQ:TTD opened at $97.73 on Wednesday. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 244.33, a PEG ratio of 4.90 and a beta of 1.49. The Trade Desk, Inc. has a 52 week low of $60.23 and a 52 week high of $99.54. The firm has a 50 day moving average of $91.11 and a 200 day moving average of $81.93.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $491.25 million for the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, analysts expect that The Trade Desk, Inc. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Trade Desk

Institutional investors have recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. increased its position in shares of Trade Desk by 119.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the period. Riverview Trust Co acquired a new position in shares of Trade Desk in the first quarter valued at about $27,000. Bogart Wealth LLC raised its stake in shares of Trade Desk by 194.7% in the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the last quarter. Level Financial Advisors Inc. lifted its holdings in shares of Trade Desk by 50.0% during the fourth quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $108.00 price target (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Susquehanna reissued a “positive” rating and issued a $110.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. Piper Sandler restated an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. Finally, Jefferies Financial Group raised Trade Desk from a “hold” rating to a “buy” rating and upped their target price for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $93.69.

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.