Trade Desk’s (TTD) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Trade Desk (NASDAQ:TTD) in a research note released on Monday morning, RTT News reports. The brokerage currently has a $110.00 price objective on the technology company’s stock.

A number of other brokerages also recently commented on TTD. Citigroup boosted their target price on shares of Trade Desk from $110.00 to $112.00 and gave the stock a buy rating in a report on Thursday, May 9th. Piper Sandler reissued an overweight rating and set a $110.00 target price on shares of Trade Desk in a research report on Tuesday, June 11th. BMO Capital Markets reaffirmed an outperform rating and issued a $108.00 price target (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Loop Capital raised their price objective on Trade Desk from $102.00 to $109.00 and gave the stock a buy rating in a research report on Thursday, May 16th. Finally, Susquehanna restated a positive rating and set a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of Moderate Buy and an average target price of $100.38.

Trade Desk Price Performance

NASDAQ:TTD opened at $90.88 on Monday. Trade Desk has a 1-year low of $60.23 and a 1-year high of $102.67. The company has a 50-day moving average of $96.72 and a 200 day moving average of $85.59. The firm has a market cap of $44.45 billion, a PE ratio of 227.21, a price-to-earnings-growth ratio of 5.17 and a beta of 1.48.

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

Insider Activity at Trade Desk

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $67,055,764.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Laura Schenkein sold 43,705 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $95.38, for a total transaction of $4,168,582.90. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $84.47, for a total value of $6,335,250.00. Following the transaction, the chief executive officer now owns 824,022 shares in the company, valued at approximately $69,605,138.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,909 shares of company stock worth $27,162,851. 10.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Apella Capital LLC increased its stake in Trade Desk by 1.9% during the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after buying an additional 100 shares in the last quarter. RFP Financial Group LLC boosted its stake in shares of Trade Desk by 26.4% in the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Diversify Advisory Services LLC increased its position in shares of Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after purchasing an additional 127 shares in the last quarter. Brookstone Capital Management raised its stake in Trade Desk by 3.0% in the 2nd quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock valued at $439,000 after purchasing an additional 135 shares during the last quarter. Finally, Csenge Advisory Group raised its stake in Trade Desk by 1.8% in the 1st quarter. Csenge Advisory Group now owns 7,869 shares of the technology company’s stock valued at $688,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds 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.