Trade Desk (NASDAQ:TTD) Reaches New 52-Week High – Here’s Why

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $113.84 and last traded at $113.61, with a volume of 321932 shares changing hands. The stock had previously closed at $111.46.

Analysts Set New Price Targets

A number of research firms have weighed in on TTD. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a research report on Wednesday. Citigroup boosted their price objective on Trade Desk from $112.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird raised their target price on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Morgan Stanley upped their price target on Trade Desk from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Finally, Moffett Nathanson initiated coverage on shares of Trade Desk in a research note on Monday, September 23rd. They issued a “neutral” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $109.89.

Trade Desk Price Performance

The stock has a market capitalization of $54.78 billion, a price-to-earnings ratio of 278.65, a price-to-earnings-growth ratio of 5.27 and a beta of 1.48. The firm has a 50 day simple moving average of $101.11 and a 200-day simple moving average of $94.76.

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 analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total value of $22,108,000.00. Following the transaction, the chief executive officer now owns 365,180 shares of the company’s stock, valued at $40,366,997.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares of the company’s stock, valued at $9,887,713. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $110.54, for a total transaction of $22,108,000.00. Following the completion of the transaction, the chief executive officer now owns 365,180 shares of the company’s stock, valued at approximately $40,366,997.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,077,248 shares of company stock worth $115,353,156. Insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Pinnacle Bancorp Inc. grew its position 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 buying an additional 163 shares during the period. Riverview Trust Co acquired a new stake in Trade Desk during the 1st quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in shares of Trade Desk during the 2nd quarter valued at $30,000. Jones Financial Companies Lllp lifted its stake in shares of Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after purchasing an additional 418 shares during the period. Finally, EdgeRock Capital LLC bought a new position in shares of Trade Desk in the 2nd quarter worth $37,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.