Trade Desk (NASDAQ:TTD) Stock Rating Reaffirmed by Wedbush

Trade Desk (NASDAQ:TTD)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Friday, MarketBeat.com reports. They currently have a $110.00 target price on the technology company’s stock. Wedbush’s price target indicates a potential upside of 10.78% from the stock’s previous close.

TTD has been the subject of a number of other research reports. DA Davidson raised their target price on Trade Desk from $95.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wolfe Research started coverage on Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 target price for the company. Citigroup raised their target price on Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Royal Bank of Canada raised their target price on Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Finally, Oppenheimer raised their target price on Trade Desk from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.51.

Trade Desk Stock Up 12.5 %

NASDAQ:TTD traded up $11.03 during midday trading on Friday, reaching $99.30. The stock had a trading volume of 13,299,325 shares, compared to its average volume of 4,207,968. The firm has a fifty day simple moving average of $95.34 and a two-hundred day simple moving average of $87.40. Trade Desk has a 12-month low of $60.23 and a 12-month high of $102.67. The stock has a market cap of $48.57 billion, a P/E ratio of 248.26, a P/E/G ratio of 4.34 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. The firm had revenue of $491.25 million for the quarter, compared to analyst estimates of $480.03 million. On average, sell-side analysts anticipate that Trade Desk will post 0.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Laura Schenkein sold 25,000 shares of Trade Desk stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in shares of Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after purchasing an additional 6,978,352 shares during the period. Norges Bank purchased a new stake in shares of Trade Desk during the 4th quarter worth about $255,316,000. 1832 Asset Management L.P. purchased a new stake in shares of Trade Desk during the 1st quarter worth about $225,710,000. Vanguard Group Inc. grew its holdings 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 worth $3,003,666,000 after purchasing an additional 818,568 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Trade Desk by 81.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock worth $105,472,000 after purchasing an additional 659,337 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.