Trade Desk (NASDAQ:TTD) Sets New 52-Week High – Still a Buy?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week high on Friday . The company traded as high as $121.39 and last traded at $121.25, with a volume of 239837 shares. The stock had previously closed at $118.21.

Analyst Ratings Changes

TTD has been the topic of a number of recent research reports. Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie raised their price target on shares of Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Stifel Nicolaus lifted their target price on shares of Trade Desk from $111.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wedbush reiterated an “outperform” rating and issued a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a research note on Thursday, September 12th. Finally, Morgan Stanley lifted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.97.

Trade Desk Trading Up 1.1 %

The company has a market cap of $58.44 billion, a price-to-earnings ratio of 298.68, a price-to-earnings-growth ratio of 5.73 and a beta of 1.48. The firm’s fifty day moving average price is $109.08 and its 200-day moving average price is $98.33.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.07 EPS. The firm’s revenue was up 25.9% on a year-over-year basis. As a group, research analysts anticipate that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insider Activity

In other news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares of the company’s stock, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total value of $147,695.00. Following the sale, the director now directly owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,897 shares of company stock valued at $170,121,565 in the last quarter. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Brookstone Capital Management lifted its position in Trade Desk by 33.6% during the 1st quarter. Brookstone Capital Management now owns 4,477 shares of the technology company’s stock worth $391,000 after buying an additional 1,126 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in Trade Desk by 9.0% during the 1st quarter. Congress Wealth Management LLC DE now owns 134,103 shares of the technology company’s stock worth $11,723,000 after buying an additional 11,086 shares in the last quarter. CAP Partners LLC lifted its position in Trade Desk by 5.8% during the 1st quarter. CAP Partners LLC now owns 5,823 shares of the technology company’s stock worth $509,000 after buying an additional 318 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Trade Desk by 3.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after buying an additional 59,161 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in shares of Trade Desk by 0.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 58,542 shares of the technology company’s stock valued at $5,118,000 after purchasing an additional 296 shares during the period. 67.77% of the stock is owned by institutional investors.

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.