Trade Desk (NASDAQ:TTD) Raised to Strong-Buy at Citizens Jmp

Trade Desk (NASDAQ:TTD) was upgraded by equities researchers at Citizens Jmp to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

TTD has been the topic of several other reports. KeyCorp upped their price objective on Trade Desk from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Robert W. Baird increased their price objective on shares of Trade Desk from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wolfe Research boosted their target price on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $140.00 price objective (up from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.13.

Trade Desk Price Performance

Trade Desk stock opened at $120.69 on Tuesday. Trade Desk has a 1 year low of $66.56 and a 1 year high of $141.53. The firm’s 50 day moving average price is $125.93 and its 200-day moving average price is $113.29. The stock has a market cap of $59.57 billion, a P/E ratio of 197.85, a PEG ratio of 3.94 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. The company had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. During the same period last year, the company earned $0.08 EPS. As a group, equities analysts expect that Trade Desk will post 0.87 EPS for the current year.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of the company. Baillie Gifford & Co. grew its position in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Jennison Associates LLC boosted its stake in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Edgewood Management LLC grew its holdings in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. FMR LLC raised its position in Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after acquiring an additional 32,999 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after acquiring an additional 68,206 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.