Trade Desk (NASDAQ:TTD) Stock Price Up 3.2%

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price rose 3.2% on Wednesday . The company traded as high as $82.65 and last traded at $82.29. Approximately 1,026,444 shares traded hands during trading, a decline of 80% from the average daily volume of 5,136,442 shares. The stock had previously closed at $79.76.

Wall Street Analyst Weigh In

TTD has been the topic of a number of research reports. Truist Financial increased their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus raised their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Benchmark raised their price objective on shares of Trade Desk from $32.00 to $42.00 and gave the company a “sell” rating in a research report on Friday, February 16th. BMO Capital Markets increased their price target on Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, Susquehanna boosted their target price on shares of Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.93.

Trade Desk Price Performance

The stock has a market cap of $41.59 billion, a P/E ratio of 236.28, a P/E/G ratio of 4.60 and a beta of 1.50. The company has a fifty day moving average price of $75.88 and a 200 day moving average price of $74.96.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The company had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Gokul Rajaram sold 2,999 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total transaction of $188,217.24. Following the sale, the director now owns 36,312 shares of the company’s stock, valued at approximately $2,278,941.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, Director Kathryn E. Falberg sold 103,030 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares in the company, valued at approximately $19,869,677.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gokul Rajaram sold 2,999 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $62.76, for a total value of $188,217.24. Following the completion of the transaction, the director now owns 36,312 shares in the company, valued at $2,278,941.12. The disclosure for this sale can be found here. Insiders have sold 276,562 shares of company stock valued at $22,681,258 in the last 90 days. Insiders own 10.81% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its position in shares of Trade Desk by 20.7% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 33,475 shares of the technology company’s stock valued at $2,409,000 after purchasing an additional 5,742 shares during the last quarter. Ables Iannone Moore & Associates Inc. bought a new position in shares of Trade Desk during the 4th quarter valued at about $6,204,000. Vanguard Group Inc. increased its position in shares of Trade Desk by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Trade Desk during the 4th quarter valued at about $83,000. Finally, SageView Advisory Group LLC grew its position in Trade Desk by 8.7% during the 4th quarter. SageView Advisory Group LLC now owns 42,735 shares of the technology company’s stock worth $2,961,000 after acquiring an additional 3,411 shares during the last quarter. 68.23% of the stock is currently 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.