Trade Desk (NASDAQ:TTD) PT Raised to $108.00 at Truist Financial

Trade Desk (NASDAQ:TTD) had its price target raised by research analysts at Truist Financial from $105.00 to $108.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target suggests a potential upside of 13.52% from the company’s current price.

A number of other analysts have also recently commented on TTD. Loop Capital lifted their target price on shares of Trade Desk from $102.00 to $109.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 target price (up previously from $105.00) on shares of Trade Desk in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Trade Desk in a report on Thursday, July 25th. Evercore ISI raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday. Finally, Wolfe Research assumed coverage on Trade Desk in a research note on Tuesday, July 16th. They set an “outperform” rating and a $115.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $102.93.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded up $6.87 during trading hours on Friday, hitting $95.14. The company’s stock had a trading volume of 3,277,541 shares, compared to its average volume of 4,142,563. The firm’s fifty day moving average price is $95.21 and its 200 day moving average price is $87.08. Trade Desk has a 52 week low of $60.23 and a 52 week high of $102.67. The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of 238.83, a P/E/G ratio of 4.34 and a beta of 1.48.

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

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now directly owns 32,701 shares in the company, valued at approximately $3,216,797.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the sale, the chief financial officer now directly owns 703,038 shares in the company, valued at $70,606,106.34. The sale 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 business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the transaction, the director now directly owns 32,701 shares of the company’s stock, valued at $3,216,797.37. The disclosure for this sale can be found here. Insiders have sold 213,909 shares of company stock worth $20,827,601 over the last ninety days. Corporate insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC lifted its stake in Trade Desk by 91.7% during the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after purchasing an additional 6,978,352 shares during the last quarter. Norges Bank purchased a new position in shares of Trade Desk in the 4th quarter valued at $255,316,000. 1832 Asset Management L.P. purchased a new position in shares of Trade Desk in the 1st quarter valued at $225,710,000. Vanguard Group Inc. lifted its position in Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after acquiring an additional 818,568 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Trade Desk by 81.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,465,701 shares of the technology company’s stock valued at $105,472,000 after acquiring an additional 659,337 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.