Trade Desk (NASDAQ:TTD) Sets New 52-Week High at $110.50

The Trade Desk, Inc. (NASDAQ:TTD)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $110.50 and last traded at $110.50, with a volume of 22488 shares. The stock had previously closed at $108.02.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TTD. Truist Financial raised their price objective on shares of Trade Desk from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Benchmark raised their target price on Trade Desk from $49.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 9th. Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price for the company. Loop Capital raised their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Evercore ISI raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.05.

Trade Desk Price Performance

The stock has a 50-day moving average of $98.32 and a 200 day moving average of $92.62. The stock has a market capitalization of $54.30 billion, a price-to-earnings ratio of 270.06, a price-to-earnings-growth ratio of 5.07 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million during 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 company’s revenue was up 25.9% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts anticipate that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gokul Rajaram sold 1,355 shares of the business’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 completion of the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, 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 sold a total of 599,163 shares of company stock worth $61,246,529 over the last three months. 10.18% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Several hedge funds have recently bought and sold shares of the stock. Lazari Capital Management Inc. bought a new position in Trade Desk during the 2nd quarter worth about $316,000. Sanctuary Advisors LLC bought a new position in shares of Trade Desk during the second quarter worth about $4,214,000. Strategic Investment Solutions Inc. IL acquired a new stake in Trade Desk in the 2nd quarter valued at approximately $72,000. Clearbridge Investments LLC lifted its stake in Trade Desk by 5.1% in the 2nd quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock valued at $46,786,000 after acquiring an additional 23,073 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in Trade Desk by 4.5% in the 2nd quarter. Dana Investment Advisors Inc. now owns 6,667 shares of the technology company’s stock valued at $651,000 after acquiring an additional 286 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.