Trade Desk (NASDAQ:TTD) Now Covered by Moffett Nathanson

Moffett Nathanson began coverage on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $100.00 price objective on the technology company’s stock.

TTD has been the subject of a number of other reports. Cantor Fitzgerald initiated coverage on Trade Desk in a report on Thursday, September 5th. They issued a neutral rating and a $110.00 price objective for the company. Susquehanna upped their price objective on shares of Trade Desk from $110.00 to $135.00 and gave the company a positive rating in a research note on Friday, August 9th. Benchmark increased their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the stock a sell rating in a research report on Friday, August 9th. Citigroup boosted their target price on shares of Trade Desk from $112.00 to $115.00 and gave the company a buy rating in a report on Friday, August 9th. 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 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $108.71.

Trade Desk Trading Down 1.2 %

Shares of TTD stock opened at $109.36 on Monday. The business’s 50-day moving average price is $99.70 and its 200-day moving average price is $93.70. Trade Desk has a 12 month low of $60.23 and a 12 month high of $112.22. The firm has a market capitalization of $53.76 billion, a price-to-earnings ratio of 273.41, a PEG ratio of 5.33 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, sell-side analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other news, Director Gokul Rajaram sold 1,355 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total value of $147,695.00. Following the completion of the sale, the director now directly owns 29,991 shares of the company’s stock, valued at $3,269,019. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the sale, the director now owns 29,991 shares in the company, valued at $3,269,019. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $70,606,106.34. The disclosure for this sale can be found here. Insiders sold a total of 856,669 shares of company stock valued at $91,009,247 over the last three months. Corporate insiders own 10.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC purchased a new stake in Trade Desk in the 1st quarter valued at about $2,626,000. Franklin Resources Inc. grew its holdings in shares of Trade Desk by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 393,907 shares of the technology company’s stock valued at $28,346,000 after acquiring an additional 53,441 shares in the last quarter. Nordea Investment Management AB grew its stake in Trade Desk by 11.4% in the 1st quarter. Nordea Investment Management AB now owns 683,642 shares of the technology company’s stock valued at $60,202,000 after purchasing an additional 70,201 shares during the period. Nicholas Company Inc. increased its holdings in Trade Desk by 64.9% during the fourth quarter. Nicholas Company Inc. now owns 776,425 shares of the technology company’s stock worth $55,872,000 after buying an additional 305,615 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in Trade Desk in the first quarter worth about $3,011,000. 67.77% of the stock is currently 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.