Trade Desk (NASDAQ:TTD) Trading Up 1.5% - Still a Buy?

Key Points

• Trade Desk's stock is currently trading at $87.42, up 1.5%, with a market cap of $43.47 billion and a P/E ratio of 107.88.
• A consensus rating of "Moderate Buy" has been assigned to the stock, with an average target price of $98.73 from analysts.
• Recent insider transactions include sales by the Director and CEO, both of whom significantly reduced their stock positions in May 2023.

The Trade Desk (NASDAQ:TTD - Get Free Report) shares were up 1.5% during mid-day trading on Monday . The company traded as high as $88.65 and last traded at $87.42. Approximately 2,253,017 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 10,124,813 shares. The stock had previously closed at $86.14.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TTD shares. Guggenheim reduced their price objective on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Wedbush reaffirmed an "outperform" rating and set a $86.00 price objective on shares of Trade Desk in a research note on Tuesday, July 15th. Wells Fargo & Company lowered shares of Trade Desk from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $74.00 to $68.00 in a research note on Thursday, June 26th. JMP Securities reaffirmed a "market outperform" rating and set a $100.00 price objective on shares of Trade Desk in a research note on Tuesday, June 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a research note on Friday, June 6th. Eight research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.73.

Trade Desk Stock Performance

The company has a market cap of $43.47 billion, a P/E ratio of 107.88, a price-to-earnings-growth ratio of 3.92 and a beta of 1.36. The stock has a 50-day moving average of $74.50 and a two-hundred day moving average of $75.25.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 15.41% and a net margin of 16.04%. The company had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Trade Desk's revenue was up 25.4% compared to the same quarter last year. Research analysts predict that The Trade Desk will post 1.06 EPS for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, 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 transaction of $2,287,603.44. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The shares were 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 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 disclosure for this sale can be found here. Corporate insiders own 9.74% of the company's stock.

Institutional Trading of Trade Desk

Large investors have recently modified their holdings of the stock. Brown Advisory Inc. raised its position in shares of 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 last quarter. Nuveen LLC acquired a new stake in shares of Trade Desk in the 1st quarter worth approximately $191,935,000. Vanguard Group Inc. increased its stake in Trade Desk by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after buying an additional 1,567,491 shares during the period. Franklin Resources Inc. increased its stake in shares of 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 last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Trade Desk by 255.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,756,805 shares of the technology company's stock worth $96,132,000 after buying an additional 1,262,492 shares during the period. Hedge funds and other institutional investors own 67.77% of the company's stock.

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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