Trade Desk (NASDAQ:TTD) Shares Up 0.7% on Analyst Upgrade

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s share price shot up 0.7% on Tuesday 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 $77.04 and last traded at $76.86. 1,001,725 shares changed hands during trading, a decline of 83% from the average session volume of 5,920,314 shares. The stock had previously closed at $76.32.

TTD has been the subject of a number of other research reports. Needham & Company LLC reissued a "buy" rating and set a $84.00 price target on shares of Trade Desk in a research report on Thursday, May 15th. Robert W. Baird decreased their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Oppenheimer lifted their price target on shares of Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company dropped 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. Finally, BMO Capital Markets decreased their price target on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and a consensus price target of $97.12.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction 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 now owns 17,018 shares of the company's stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of the business's 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 transaction, the director now owns 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Focus Financial Network Inc. lifted its stake in shares of Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after acquiring an additional 84 shares during the period. Quotient Wealth Partners LLC lifted its position in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after purchasing an additional 94 shares during the period. TFB Advisors LLC boosted its stake in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock valued at $442,000 after purchasing an additional 94 shares in the last quarter. Centurion Wealth Management LLC increased its position in shares of Trade Desk by 2.6% during the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after purchasing an additional 96 shares during the period. Finally, Values First Advisors Inc. increased its position in shares of Trade Desk by 0.9% during the 4th quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company's stock valued at $1,398,000 after purchasing an additional 107 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

The company has a market cap of $38.13 billion, a P/E ratio of 98.54, a P/E/G ratio of 3.11 and a beta of 1.29. The stock has a 50 day moving average price of $56.44 and a 200 day moving average price of $93.21.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. During the same period in the previous year, the business earned $0.26 earnings per share. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

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

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.

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