Trade Desk (NASDAQ:TTD) Stock Price Up 6.1% - Time to Buy?

The Trade Desk (NASDAQ:TTD - Get Free Report)'s stock price was up 6.1% during trading on Monday . The stock traded as high as $72.37 and last traded at $73.57. Approximately 826,862 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 6,298,333 shares. The stock had previously closed at $69.33.

Analysts Set New Price Targets

Several research firms have recently weighed in on TTD. Guggenheim reduced their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Citigroup boosted their target price on shares of Trade Desk from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday. Macquarie raised their price target on shares of Trade Desk from $90.00 to $92.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Cfra Research upgraded Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and an average target price of $97.27.

Trade Desk Trading Up 2.2%

The stock has a 50-day simple moving average of $68.05 and a 200 day simple moving average of $81.26. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 89.83, a PEG ratio of 3.18 and a beta of 1.41.

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

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction dated Monday, May 12th. The shares were 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 owned 17,018 shares of the company's stock, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly 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. Insiders own 9.72% of the company's stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently bought and sold shares of the company. Centurion Wealth Management LLC increased its holdings 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 worth $443,000 after buying an additional 96 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Trade Desk by 1.7% during the fourth quarter. Great Lakes Advisors LLC now owns 6,951 shares of the technology company's stock worth $817,000 after acquiring an additional 116 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in Trade Desk by 2.7% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,464 shares of the technology company's stock valued at $525,000 after purchasing an additional 117 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Trade Desk by 8.3% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company's stock valued at $226,000 after purchasing an additional 133 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Trade Desk by 4.0% during the 4th quarter. Verdence Capital Advisors LLC now owns 3,714 shares of the technology company's stock worth $437,000 after purchasing an additional 144 shares during the period. 67.77% of the stock is 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.