Trade Desk (NASDAQ:TTD) Reaches New 52-Week High Following Analyst Upgrade

Shares of The Trade Desk, Inc. (NASDAQ:TTD) hit a new 52-week high during trading on Monday after Loop Capital raised their price target on the stock from $109.00 to $120.00. Loop Capital currently has a buy rating on the stock. Trade Desk traded as high as $105.39 and last traded at $104.01, with a volume of 539089 shares traded. The stock had previously closed at $105.00.

A number of other equities analysts have also recently issued reports on the stock. Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, August 6th. Benchmark increased their target price on Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 9th. KeyCorp boosted their target price on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $108.00 price target (up from $107.00) on shares of Trade Desk in a research report on Thursday, May 9th. Finally, Truist Financial boosted their price objective on shares of Trade Desk from $105.00 to $108.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.72.

Insider Transactions at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’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 transaction, the chief executive officer now directly owns 380,832 shares in the company, valued at approximately $39,682,694.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold a total of 642,868 shares of company stock valued at $65,415,112 over the last 90 days. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. increased its holdings in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk in the first quarter valued at $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Trade Desk during the 2nd quarter worth about $30,000. Bogart Wealth LLC boosted its holdings in shares of Trade Desk by 194.7% during the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after buying an additional 222 shares during the period. Finally, EdgeRock Capital LLC acquired a new position in Trade Desk in the 2nd quarter valued at about $37,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

The company’s fifty day simple moving average is $96.83 and its two-hundred day simple moving average is $90.28. The stock has a market capitalization of $51.08 billion, a P/E ratio of 259.81, a PEG ratio of 5.23 and a beta of 1.48.

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, topping analysts’ consensus estimates of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. On average, research analysts predict that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.