Trade Desk (NASDAQ:TTD) Downgraded by StockNews.com

Trade Desk (NASDAQ:TTD) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

TTD has been the subject of a number of other reports. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research note on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price objective (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. Evercore ISI upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Macquarie reiterated an “outperform” rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Finally, Robert W. Baird boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $108.71.

Trade Desk Price Performance

NASDAQ:TTD opened at $108.53 on Tuesday. The firm has a market cap of $53.08 billion, a price-to-earnings ratio of 271.33, a price-to-earnings-growth ratio of 5.07 and a beta of 1.48. The firm’s fifty day moving average price is $98.92 and its 200 day moving average price is $93.27. Trade Desk has a 1-year low of $60.23 and a 1-year high of $111.80.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. As a group, analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 135,922 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now owns 664,261 shares in the company, valued at $68,897,150.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey Terry Green sold 135,922 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the completion of the transaction, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total transaction of $160,712.42. Following the completion of the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 596,748 shares of company stock valued at $61,010,053. Company insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Global Assets Advisory LLC acquired a new position in Trade Desk during the first quarter valued at approximately $2,626,000. Nordea Investment Management AB boosted its position in Trade Desk by 11.4% during the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock worth $60,202,000 after purchasing an additional 70,201 shares during the period. Nicholas Company Inc. increased its holdings in Trade Desk by 64.9% in the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after purchasing an additional 305,615 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Trade Desk in the first quarter valued at about $3,011,000. Finally, International Assets Investment Management LLC boosted its position in shares of Trade Desk by 4.3% in the first quarter. International Assets Investment Management LLC now owns 15,825 shares of the technology company’s stock worth $1,382,000 after buying an additional 656 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.