Trade Desk (NASDAQ:TTD) Upgraded at Arete Research

Key Points

• Trade Desk's stock rating was downgraded to Strong Sell by Arete Research, while other analysts like Evercore ISI upgraded their rating to Outperform with a $90 price target.
• Shares of Trade Desk currently have a market cap of $42.47 billion and have seen a 52-week high of $141.53, with the stock recently opening at $86.42.
• Insider trading activity revealed significant sales by top executives, with CEO Jeffrey Green selling a 61.06% share of his ownership in the company.

Arete Research upgraded shares of Trade Desk (NASDAQ:TTD - Free Report) to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

TTD has been the topic of several other reports. DA Davidson decreased their target price on shares of Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $84.00 target price on shares of Trade Desk in a research report on Friday, June 6th. Royal Bank Of Canada decreased their target price on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities lifted their target price on shares of Trade Desk from $77.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, JMP Securities reissued a "market outperform" rating and set a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average price target of $100.09.

Trade Desk Stock Down 1.0%

NASDAQ TTD traded down $0.88 during midday trading on Monday, hitting $86.08. The company had a trading volume of 9,973,566 shares, compared to its average volume of 14,718,176. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 104.98, a P/E/G ratio of 3.95 and a beta of 1.36. The firm has a fifty day simple moving average of $75.63 and a two-hundred day simple moving average of $74.76. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. During the same period in the previous year, the business earned $0.26 EPS. The firm's revenue was up 25.4% on a year-over-year basis. As a group, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David B. Wells sold 28,638 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director directly owned 66,985 shares of the company's stock, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer directly owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Advisory Inc. grew its holdings in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after purchasing an additional 5,387,339 shares during the period. Nuveen LLC acquired a new position in Trade Desk during the first quarter valued at approximately $191,935,000. Jennison Associates LLC grew its holdings in Trade Desk by 17.9% during the second quarter. Jennison Associates LLC now owns 14,267,457 shares of the technology company's stock valued at $1,027,114,000 after purchasing an additional 2,169,252 shares during the period. Vanguard Group Inc. grew its holdings in Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Trade Desk by 255.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,756,805 shares of the technology company's stock valued at $96,132,000 after purchasing an additional 1,262,492 shares during the period. 67.77% of the stock is owned by institutional investors.

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.