Trade Desk (NASDAQ:TTD) Shares Up 0.4% After Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) shares rose 0.4% on Monday after Macquarie raised their price target on the stock from $90.00 to $92.00. Macquarie currently has an outperform rating on the stock. Trade Desk traded as high as $76.68 and last traded at $76.62. Approximately 1,355,413 shares changed hands during trading, a decline of 77% from the average daily volume of 5,926,102 shares. The stock had previously closed at $76.31.

Other analysts also recently issued reports about the stock. Stifel Nicolaus dropped their target price on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Loop Capital reduced their price target on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday, March 31st. Piper Sandler raised their price objective on Trade Desk from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $84.00 price objective on shares of Trade Desk in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $97.12.

Insider Buying and Selling

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Large investors have recently bought and sold shares of the business. Brown Advisory Inc. increased its position 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 acquiring an additional 5,387,339 shares during the last quarter. Norges Bank bought a new position in shares of Trade Desk during the 4th quarter worth $524,187,000. Nuveen LLC purchased a new position in Trade Desk during the 1st quarter valued at about $191,935,000. Raymond James Financial Inc. bought a new position in Trade Desk in the fourth quarter worth approximately $231,570,000. Finally, Vanguard Group Inc. boosted its position 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 in the last quarter. Institutional investors own 67.77% of the company's stock.

Trade Desk Stock Up 0.6%

The firm has a market capitalization of $38.09 billion, a PE ratio of 98.43, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company's 50-day simple moving average is $56.12 and its 200 day simple moving average is $93.51.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same quarter last year, the company earned $0.26 earnings per share. The company's quarterly revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.

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