StockNews.com Lowers Trade Desk (NASDAQ:TTD) to Hold

StockNews.com downgraded shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other research analysts have also issued reports on TTD. Loop Capital raised their price objective on shares of Trade Desk from $109.00 to $120.00 and gave the company a buy rating in a report on Monday, August 26th. Piper Sandler reaffirmed an overweight rating and set a $110.00 price target on shares of Trade Desk in a research note on Tuesday, June 11th. Stifel Nicolaus reissued a buy rating and issued a $111.00 price objective (up previously from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed a neutral rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, September 23rd. Finally, Benchmark upped their price target on Trade Desk from $49.00 to $57.00 and gave the company a sell rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $108.71.

Trade Desk Stock Performance

NASDAQ:TTD opened at $109.45 on Tuesday. Trade Desk has a fifty-two week low of $60.23 and a fifty-two week high of $112.22. The company has a market cap of $53.80 billion, a price-to-earnings ratio of 273.63, a PEG ratio of 5.33 and a beta of 1.48. The stock has a fifty day moving average price of $99.96 and a 200-day moving average price of $93.90.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. Research analysts predict that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at $9,887,713. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Trade Desk news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $99.50, for a total value of $484,764.00. Following the completion of the transaction, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at approximately $3,216,797.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,056,669 shares of company stock worth $113,117,247. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently made changes to their positions in the stock. Apella Capital LLC increased its position in shares of Trade Desk by 1.9% during the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after purchasing an additional 100 shares during the last quarter. Wealth Alliance raised its position in Trade Desk by 0.6% in the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock worth $1,810,000 after purchasing an additional 106 shares during the period. RFP Financial Group LLC lifted its stake in Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after purchasing an additional 116 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in Trade Desk by 2.0% during the second quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company’s stock valued at $612,000 after buying an additional 125 shares during the period. Finally, Diversify Advisory Services LLC grew its stake in shares of Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock valued at $297,000 after buying an additional 127 shares during the last quarter. 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.