Trade Desk (NASDAQ:TTD) Trading 6.7% Higher on Analyst Upgrade

Shares of The Trade Desk, Inc. (NASDAQ:TTD) shot up 6.7% on Monday after KeyCorp raised their price target on the stock from $140.00 to $142.00. KeyCorp currently has an overweight rating on the stock. Trade Desk traded as high as $123.98 and last traded at $125.17. 1,483,959 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 3,561,959 shares. The stock had previously closed at $117.29.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company boosted their price objective on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Royal Bank of Canada boosted their price objective on Trade Desk from $136.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Evercore ISI boosted their price objective on Trade Desk from $110.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Citigroup boosted their price objective on Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and an average price target of $133.20.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last ninety days. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in the business. Focus Financial Network Inc. boosted its stake in shares of Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares in the last quarter. CAP Partners LLC increased its stake in shares of Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after purchasing an additional 86 shares in the last quarter. RMR Wealth Builders increased its stake in shares of Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares in the last quarter. Finally, TFB Advisors LLC increased its stake in shares of Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Stock Performance

The company has a 50 day moving average of $124.17 and a two-hundred day moving average of $115.07. The stock has a market cap of $61.92 billion, a PE ratio of 204.34, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.21). The company had revenue of $628.02 million for the quarter, compared to analyst estimates of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current year.

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.