Trade Desk (NASDAQ:TTD) Sets New 52-Week High at $100.25

Shares of The Trade Desk, Inc. (NASDAQ:TTD) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $100.25 and last traded at $99.88, with a volume of 984772 shares changing hands. The stock had previously closed at $98.34.

Analyst Upgrades and Downgrades

TTD has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Trade Desk in a research report on Thursday, May 9th. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target on shares of Trade Desk in a report on Tuesday, June 11th. Royal Bank of Canada lifted their price objective on shares of Trade Desk from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Stifel Nicolaus upped their price objective on shares of Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price on shares of Trade Desk in a report on Thursday, May 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.69.

Trade Desk Stock Performance

The firm has a market capitalization of $48.65 billion, a price-to-earnings ratio of 248.36, a P/E/G ratio of 5.00 and a beta of 1.48. The business has a fifty day moving average price of $92.96 and a 200 day moving average price of $82.79.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $491.25 million during the quarter, compared to analyst estimates of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. On average, analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 2,600 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $86.41, for a total transaction of $224,666.00. Following the completion of the sale, the chief executive officer now directly owns 974,022 shares of the company’s stock, valued at approximately $84,165,241.02. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jay R. Grant sold 141,434 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $86.41, for a total value of $224,666.00. Following the sale, the chief executive officer now owns 974,022 shares of the company’s stock, valued at approximately $84,165,241.02. The disclosure for this sale can be found here. Insiders have sold a total of 340,154 shares of company stock valued at $31,128,226 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors have recently added to or reduced their stakes in TTD. Bank of Nova Scotia acquired a new position in Trade Desk in the third quarter worth $257,000. Ancora Advisors LLC grew its position in shares of Trade Desk by 56.5% during the 3rd quarter. Ancora Advisors LLC now owns 485 shares of the technology company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter. Lazard Asset Management LLC raised its stake in Trade Desk by 43.7% during the third quarter. Lazard Asset Management LLC now owns 16,299 shares of the technology company’s stock worth $1,272,000 after acquiring an additional 4,960 shares during the period. AQR Capital Management LLC lifted its holdings in Trade Desk by 67.1% in the third quarter. AQR Capital Management LLC now owns 76,050 shares of the technology company’s stock worth $5,943,000 after acquiring an additional 30,548 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in Trade Desk in the third quarter valued at approximately $1,877,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.