Trade Desk (NASDAQ:TTD) Hits New 12-Month High – Should You Buy?

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $124.00 and last traded at $123.27, with a volume of 396671 shares traded. The stock had previously closed at $119.94.

Analyst Ratings Changes

Several analysts recently weighed in on TTD shares. Wolfe Research initiated coverage on Trade Desk in a report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price objective for the company. Morgan Stanley boosted their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Macquarie boosted their price target on Trade Desk from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Benchmark lifted their price objective on shares of Trade Desk from $49.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 9th. Finally, StockNews.com raised Trade Desk from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average target price of $115.60.

Trade Desk Stock Performance

The company has a 50-day moving average price of $111.38 and a 200-day moving average price of $100.28. The company has a market capitalization of $61.35 billion, a price-to-earnings ratio of 239.88, a price-to-earnings-growth ratio of 5.69 and a beta of 1.47.

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

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,872 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now owns 99,374 shares in the company, valued at approximately $9,887,713. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Samantha Jacobson sold 4,872 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $99.50, for a total transaction of $484,764.00. Following the completion of the sale, the insider now directly owns 99,374 shares in the company, valued at approximately $9,887,713. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock worth $170,121,565 in the last ninety days. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in TTD. Evergreen Wealth Management LLC acquired a new stake in Trade Desk during the 3rd quarter worth approximately $842,000. Natixis Advisors LLC raised its position in shares of Trade Desk by 4.2% during the third quarter. Natixis Advisors LLC now owns 437,506 shares of the technology company’s stock worth $47,973,000 after acquiring an additional 17,533 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Trade Desk by 6.9% in the 3rd quarter. Empowered Funds LLC now owns 14,738 shares of the technology company’s stock valued at $1,616,000 after purchasing an additional 953 shares during the last quarter. CIBC Asset Management Inc boosted its position in Trade Desk by 1.5% during the third quarter. CIBC Asset Management Inc now owns 193,260 shares of the technology company’s stock valued at $21,191,000 after acquiring an additional 2,944 shares during the last quarter. Finally, Balboa Wealth Partners bought a new stake in Trade Desk during the third quarter valued at $203,000. 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.