Trade Desk (NASDAQ:TTD) Shares Gap Up to $81.07

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $81.07, but opened at $84.50. Trade Desk shares last traded at $84.02, with a volume of 1,451,581 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Royal Bank of Canada increased their price objective on Trade Desk from $90.00 to $105.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Seaport Res Ptn restated a "neutral" rating on shares of Trade Desk in a research report on Monday, February 12th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Trade Desk in a research report on Thursday, March 21st. Finally, BMO Capital Markets boosted their price objective on shares of Trade Desk from $88.00 to $107.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $89.75.

Trade Desk Price Performance

The firm's 50-day moving average price is $83.21 and its 200-day moving average price is $75.62. The stock has a market cap of $40.97 billion, a P/E ratio of 232.75, a PEG ratio of 4.29 and a beta of 1.50.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). The business had revenue of $605.80 million for the quarter, compared to analysts' expectations of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. Sell-side analysts expect that The Trade Desk, Inc. will post 0.79 earnings per share for the current year.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 15,006 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the transaction, the insider now directly owns 52,387 shares in the company, valued at approximately $4,377,981.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Laura Schenkein sold 3,391 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $303,596.23. Following the sale, the chief financial officer now owns 653,366 shares in the company, valued at $58,495,857.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Samantha Jacobson sold 15,006 shares of the business's stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the sale, the insider now directly owns 52,387 shares in the company, valued at $4,377,981.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 492,170 shares of company stock valued at $41,250,398. 10.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently bought and sold shares of the company. Simplicity Wealth LLC acquired a new stake in shares of Trade Desk during the 1st quarter worth approximately $2,973,000. Assenagon Asset Management S.A. boosted its stake in Trade Desk by 0.8% during the first quarter. Assenagon Asset Management S.A. now owns 100,381 shares of the technology company's stock worth $8,775,000 after buying an additional 826 shares during the period. Cherry Creek Investment Advisors Inc. increased its position in shares of Trade Desk by 0.7% during the first quarter. Cherry Creek Investment Advisors Inc. now owns 23,577 shares of the technology company's stock valued at $2,061,000 after acquiring an additional 153 shares during the last quarter. Stablepoint Partners LLC raised its stake in shares of Trade Desk by 25.4% in the 1st quarter. Stablepoint Partners LLC now owns 11,478 shares of the technology company's stock valued at $1,003,000 after acquiring an additional 2,327 shares during the period. Finally, Paradiem LLC lifted its holdings in shares of Trade Desk by 1.3% in the 1st quarter. Paradiem LLC now owns 47,695 shares of the technology company's stock worth $4,169,000 after acquiring an additional 615 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other 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.