Trade Desk (NASDAQ:TTD) Research Coverage Started at JMP Securities

JMP Securities initiated coverage on shares of Trade Desk (NASDAQ:TTD) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued a mkt outperform rating and a $150.00 price objective on the technology company’s stock.

Several other brokerages have also issued reports on TTD. Truist Financial increased their price target on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Scotiabank initiated coverage on shares of Trade Desk in a research note on Thursday, December 5th. They set a “sector perform” rating and a $133.00 target price for the company. Oppenheimer boosted their price target on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Susquehanna reaffirmed a “positive” rating and set a $150.00 price objective on shares of Trade Desk in a research report on Thursday, November 21st. Finally, BTIG Research boosted their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $133.13.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $119.14 on Tuesday. Trade Desk has a 1 year low of $66.56 and a 1 year high of $141.53. The stock has a market capitalization of $58.80 billion, a P/E ratio of 195.31, a P/E/G ratio of 3.94 and a beta of 1.45. The company’s 50-day moving average is $125.80 and its 200 day moving average is $113.33.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share 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 analysts’ expectations of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter last year, the company posted $0.08 EPS. Research analysts anticipate that Trade Desk will post 0.87 earnings per share for the current year.

Insider Activity at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value 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. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 549,684 shares of company stock worth $68,444,576. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its position in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its stake in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its holdings in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. FMR LLC grew its position in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Trade Desk by 3.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock worth $231,294,000 after purchasing an additional 68,206 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.