Trade Desk (NASDAQ:TTD) Trading Up 1.4% Following Analyst Upgrade

Key Points

• Trade Desk's stock price increased by 1.4% after Royal Bank of Canada upgraded its price target to $100, marking a strong outlook with an "outperform" rating.
• In recent trading, several analysts have varied price targets for the stock, with Oppenheimer setting the highest target at $110, while a majority of analysts maintain a consensus rating of "Moderate Buy."
• Insider trades revealed significant selling activity, as both CEO Jeffrey Terry Green and Director David B. Wells reduced their shareholdings notably, which may indicate potential internal concerns or profit-taking.

The Trade Desk (NASDAQ:TTD - Get Free Report)'s share price traded up 1.4% during mid-day trading on Thursday after Royal Bank Of Canada raised their price target on the stock from $85.00 to $100.00. Royal Bank Of Canada currently has an outperform rating on the stock. Trade Desk traded as high as $88.58 and last traded at $87.67. 2,313,361 shares traded hands during trading, a decline of 77% from the average session volume of 10,082,081 shares. The stock had previously closed at $86.42.

TTD has been the subject of a number of other reports. Guggenheim lowered their price objective on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Morgan Stanley lifted their price objective on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Rosenblatt Securities lifted their price objective on Trade Desk from $77.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Arete Research upgraded Trade Desk to a "strong sell" rating in a research report on Monday. Finally, Truist Financial lifted their price objective on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.09.

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 stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director directly owned 66,985 shares of the company's stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $2,135,520.52. Following the transaction, the chief executive officer directly owned 17,018 shares in the company, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise acquired a new position in Trade Desk in the 1st quarter valued at $26,000. Sound Income Strategies LLC increased its position in Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after buying an additional 270 shares during the period. Cloud Capital Management LLC bought a new position in Trade Desk during the 1st quarter worth $27,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk during the first quarter worth $31,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

The stock's 50-day moving average price is $75.38 and its 200-day moving average price is $74.97. The company has a market cap of $42.01 billion, a P/E ratio of 104.29, a PEG ratio of 3.93 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 EPS 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 the consensus estimate of $575.62 million. During the same period in the prior year, the company posted $0.26 earnings per share. Trade Desk's revenue was up 25.4% compared to the same quarter last year. As a group, analysts expect that The Trade Desk will post 1.06 EPS for the current fiscal year.

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.