Trade Desk (NASDAQ:TTD) Shares Up 2% After Analyst Upgrade

The Trade Desk (NASDAQ:TTD - Get Free Report)'s stock price shot up 2% during mid-day trading on Tuesday after Stifel Nicolaus raised their price target on the stock from $87.00 to $95.00. Stifel Nicolaus currently has a buy rating on the stock. Trade Desk traded as high as $81.77 and last traded at $81.63. 1,969,087 shares traded hands during trading, a decline of 72% from the average session volume of 7,137,698 shares. The stock had previously closed at $80.03.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group set a $125.00 price objective on Trade Desk and gave the company a "buy" rating in a report on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and issued a $100.00 target price on shares of Trade Desk in a research note on Tuesday, June 24th. DA Davidson lowered their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Truist Financial upped their target price on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Evercore ISI upgraded Trade Desk from an "in-line" rating to an "outperform" rating and set a $90.00 target price on the stock in a research note on Friday, June 27th. Eight research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $98.73.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated 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 sale, the director owned 66,985 shares in the company, 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. 9.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after purchasing an additional 5,387,339 shares during the period. Norges Bank acquired a new position in Trade Desk during the 4th quarter worth approximately $524,187,000. Nuveen LLC acquired a new position in Trade Desk during the 1st quarter worth approximately $191,935,000. Vanguard Group Inc. increased its position in Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Finally, Franklin Resources Inc. increased its position in Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock worth $219,121,000 after purchasing an additional 1,354,891 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Stock Performance

The company has a 50-day simple moving average of $73.96 and a 200-day simple moving average of $76.62. The company has a market cap of $40.17 billion, a price-to-earnings ratio of 99.69, a PEG ratio of 3.67 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The company's quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, equities research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

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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