Trade Desk (NASDAQ:TTD) Sets New 12-Month High After Analyst Upgrade

Shares of The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week high during mid-day trading on Thursday after Citigroup raised their price target on the stock from $115.00 to $140.00. Citigroup currently has a buy rating on the stock. Trade Desk traded as high as $118.90 and last traded at $117.31, with a volume of 252067 shares trading hands. The stock had previously closed at $117.94.

A number of other equities research analysts have also weighed in on TTD. 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. Cantor Fitzgerald reissued a “neutral” rating and set a $110.00 price objective on shares of Trade Desk in a research note on Monday, October 7th. Bank of America started coverage on shares of Trade Desk in a research note on Wednesday, September 4th. They set a “buy” rating and a $135.00 price objective on the stock. BTIG Research boosted their price objective on shares of Trade Desk from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Needham & Company LLC boosted their price objective on shares of Trade Desk from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $112.97.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the transaction, the chief executive officer now owns 7,330 shares in the company, valued at approximately $846,615. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jeffrey Terry Green sold 80,649 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $115.50, for a total transaction of $9,314,959.50. Following the completion of the transaction, the chief executive officer now owns 7,330 shares in the company, valued at approximately $846,615. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $115.43, for a total transaction of $2,885,750.00. Following the transaction, the chief financial officer now owns 693,953 shares of the company’s stock, valued at approximately $80,102,994.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,557,897 shares of company stock worth $170,095,115 over the last three months. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently bought and sold shares of the business. Global Assets Advisory LLC bought a new position in Trade Desk during the first quarter valued at $2,626,000. Nordea Investment Management AB raised its stake in shares of Trade Desk by 11.4% in the first quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after acquiring an additional 70,201 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Trade Desk in the first quarter valued at $3,011,000. International Assets Investment Management LLC raised its stake 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 valued at $1,382,000 after acquiring an additional 656 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Trade Desk in the first quarter valued at $1,034,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Up 1.0 %

The firm has a market cap of $58.09 billion, a PE ratio of 296.70, a P/E/G ratio of 5.68 and a beta of 1.48. The company’s 50 day moving average price is $106.77 and its two-hundred day moving average price is $96.92.

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, 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 revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, analysts expect that The Trade Desk, Inc. will post 0.86 earnings per share for the current fiscal year.

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.