Trade Desk (NASDAQ:TTD) Trading 6.7% Higher on Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD) rose 6.7% during mid-day trading on Monday after KeyCorp raised their price target on the stock from $140.00 to $142.00. KeyCorp currently has an overweight rating on the stock. Trade Desk traded as high as $123.98 and last traded at $125.17. Approximately 1,483,959 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 3,561,959 shares. The stock had previously closed at $117.29.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Morgan Stanley increased their target price on shares of Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Citigroup increased their target price on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Macquarie increased their target price on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird increased their target price on shares of Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.20.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC boosted its holdings in shares of Trade Desk by 5.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 218,162 shares of the technology company’s stock valued at $25,641,000 after buying an additional 10,399 shares during the period. PGGM Investments boosted its stake in Trade Desk by 107.9% during the 4th quarter. PGGM Investments now owns 37,333 shares of the technology company’s stock valued at $4,388,000 after purchasing an additional 19,378 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Trade Desk by 6.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 96,977 shares of the technology company’s stock valued at $11,653,000 after purchasing an additional 5,900 shares during the period. Rakuten Securities Inc. boosted its stake in Trade Desk by 407.5% during the 4th quarter. Rakuten Securities Inc. now owns 812 shares of the technology company’s stock valued at $95,000 after purchasing an additional 652 shares during the period. Finally, Forge First Asset Management Inc. boosted its stake in Trade Desk by 50.0% during the 4th quarter. Forge First Asset Management Inc. now owns 21,000 shares of the technology company’s stock valued at $2,467,000 after purchasing an additional 7,000 shares during the period. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

The business’s 50 day simple moving average is $124.17 and its 200-day simple moving average is $115.07. The stock has a market capitalization of $61.92 billion, a price-to-earnings ratio of 204.34, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The firm had revenue of $628.02 million for the quarter, compared to analyst estimates of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.87 EPS for the current 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.