Trade Desk (NASDAQ:TTD) Downgraded to “Hold” at StockNews.com

StockNews.com lowered shares of Trade Desk (NASDAQ:TTD) from a buy rating to a hold rating in a report issued on Saturday.

TTD has been the topic of a number of other reports. Truist Financial increased their price target on Trade Desk from $105.00 to $108.00 and gave the stock a buy rating in a research report on Friday, August 9th. KeyCorp increased their price target on Trade Desk from $105.00 to $115.00 and gave the stock an overweight rating in a research report on Friday, August 9th. Cantor Fitzgerald initiated coverage on Trade Desk in a research report on Thursday, September 5th. They set a neutral rating and a $110.00 price target on the stock. Evercore ISI upgraded Trade Desk to a strong-buy rating in a research report on Tuesday, August 6th. Finally, Bank of America assumed coverage on Trade Desk in a report on Wednesday, September 4th. They issued a buy rating and a $135.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $108.85.

Trade Desk Stock Performance

Shares of TTD opened at $99.71 on Friday. The company has a market capitalization of $49.02 billion, a P/E ratio of 249.28, a P/E/G ratio of 4.83 and a beta of 1.47. Trade Desk has a one year low of $60.23 and a one year high of $105.39. The stock has a 50-day moving average price of $97.67 and a 200 day moving average price of $91.80.

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

Insider Activity

In other Trade Desk news, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, CEO Jeffrey Terry Green sold 283,429 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares of the company’s stock, valued at $39,682,694.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Laura Schenkein sold 43,705 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the completion of the sale, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $67,055,764.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 642,868 shares of company stock worth $65,415,112. 10.18% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Lazari Capital Management Inc. acquired a new position in shares of Trade Desk during the 2nd quarter worth about $316,000. Sanctuary Advisors LLC acquired a new position in shares of Trade Desk during the 2nd quarter worth about $4,214,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Trade Desk during the 2nd quarter worth about $72,000. Clearbridge Investments LLC lifted its position in shares of Trade Desk by 5.1% during the 2nd quarter. Clearbridge Investments LLC now owns 479,021 shares of the technology company’s stock worth $46,786,000 after purchasing an additional 23,073 shares during the last quarter. Finally, Dana Investment Advisors Inc. lifted its position in shares of Trade Desk by 4.5% during the 2nd quarter. Dana Investment Advisors Inc. now owns 6,667 shares of the technology company’s stock worth $651,000 after purchasing an additional 286 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.