Trade Desk’s (TTD) “Sell” Rating Reaffirmed at Benchmark

Benchmark reissued their sell rating on shares of Trade Desk (NASDAQ:TTD) in a research note issued to investors on Friday,Benzinga reports. They currently have a $57.00 price target on the technology company’s stock.

Other analysts have also recently issued reports about the stock. Moffett Nathanson assumed coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 price target on the stock. Loop Capital boosted their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Truist Financial raised their price target on Trade Desk from $108.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Macquarie lifted their price objective on Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Finally, Wolfe Research assumed coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.69.

Trade Desk Stock Down 5.6 %

Shares of TTD stock opened at $125.13 on Friday. The company has a market capitalization of $61.51 billion, a P/E ratio of 205.13, a P/E/G ratio of 6.02 and a beta of 1.47. Trade Desk has a 12-month low of $60.23 and a 12-month high of $132.65. The firm has a 50-day moving average price of $112.83 and a 200 day moving average price of $101.27.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 13.34% and a return on equity of 13.73%. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, research analysts expect that Trade Desk will post 0.86 earnings per share for the current year.

Insider Transactions at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the sale, the director now directly owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $117.89, for a total value of $159,740.95. Following the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrea Lee Cunningham sold 1,606 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Trade Desk during the 2nd quarter valued at about $30,000. EdgeRock Capital LLC purchased a new position in shares of Trade Desk during the 2nd quarter worth about $37,000. Avior Wealth Management LLC increased its holdings in Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. Quarry LP bought a new position in shares of Trade Desk in the 2nd quarter worth $41,000. Finally, Brown Lisle Cummings Inc. boosted its holdings in Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. 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.