Trade Desk (NASDAQ:TTD) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Trade Desk (NASDAQ:TTD) in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $135.00 target price on the technology company’s stock.

A number of other equities analysts have also weighed in on TTD. Needham & Company LLC upped their target price on Trade Desk from $100.00 to $115.00 and gave the stock a buy rating in a research report on Friday, August 9th. Royal Bank of Canada upped their price target on Trade Desk from $110.00 to $120.00 and gave the stock an outperform rating in a report on Friday, August 9th. Wedbush reiterated an outperform rating and set a $110.00 price target on shares of Trade Desk in a report on Friday, August 9th. Susquehanna upped their price target on Trade Desk from $110.00 to $135.00 and gave the stock a positive rating in a report on Friday, August 9th. Finally, Citigroup upped their price target on Trade Desk from $112.00 to $115.00 and gave the stock a buy rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $108.85.

Trade Desk Stock Down 3.1 %

Shares of NASDAQ:TTD opened at $100.31 on Wednesday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $105.39. The stock’s 50 day moving average is $97.62 and its 200-day moving average is $91.49. The firm has a market capitalization of $49.31 billion, a price-to-earnings ratio of 250.78, a PEG ratio of 5.14 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Trade Desk’s revenue for the quarter was up 25.9% on a year-over-year basis. Equities research analysts anticipate that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gokul Rajaram sold 1,355 shares of the 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 sale, the director now owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the 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 sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the 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 sale, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 642,868 shares of company stock valued at $65,415,112. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the business. Global Assets Advisory LLC purchased a new stake in shares of Trade Desk in the 1st quarter valued at about $2,626,000. Franklin Resources Inc. raised its holdings in shares of Trade Desk by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after acquiring an additional 53,441 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Trade Desk by 11.4% in the 1st 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 in the last quarter. Nicholas Company Inc. increased its position in shares of Trade Desk by 64.9% during the 4th quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock valued at $55,872,000 after purchasing an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of Trade Desk during the 1st quarter valued at about $3,011,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.