Vetr cut shares of The Trade Desk Inc. (NASDAQ:TTD) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning. Vetr currently has $71.92 price objective on the technology company’s stock.
Several other research analysts have also recently commented on TTD. Zacks Investment Research cut The Trade Desk from a buy rating to a hold rating in a research note on Thursday, July 13th. Royal Bank Of Canada restated a buy rating on shares of The Trade Desk in a research note on Wednesday, August 2nd. Cantor Fitzgerald upped their price objective on The Trade Desk from $60.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, August 10th. Needham & Company LLC restated a buy rating and set a $62.00 price objective (up previously from $56.00) on shares of The Trade Desk in a research note on Friday, August 11th. Finally, Jefferies Group LLC restated a buy rating and set a $60.00 price objective (up previously from $57.00) on shares of The Trade Desk in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $66.63.
Shares of The Trade Desk (TTD) traded down 0.93% during midday trading on Tuesday, hitting $65.31. The stock had a trading volume of 331,620 shares. The company has a market cap of $2.66 billion and a P/E ratio of 60.30. The Trade Desk has a one year low of $22.00 and a one year high of $67.30. The stock has a 50 day moving average of $61.90 and a 200-day moving average of $61.86.
The Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 10th. The technology company reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.29. The Trade Desk had a return on equity of 26.34% and a net margin of 13.92%. The business had revenue of $72.80 million for the quarter, compared to analysts’ expectations of $68.02 million. The business’s revenue for the quarter was up 54.2% on a year-over-year basis. Analysts forecast that The Trade Desk will post $1.43 EPS for the current fiscal year.
In other The Trade Desk news, CFO Paul Ross sold 3,705 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $63.33, for a total transaction of $234,637.65. Following the completion of the transaction, the chief financial officer now directly owns 53,451 shares of the company’s stock, valued at approximately $3,385,051.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 7,689 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $61.90, for a total value of $475,949.10. Following the transaction, the chief executive officer now directly owns 109,711 shares of the company’s stock, valued at $6,791,110.90. The disclosure for this sale can be found here. Insiders sold a total of 219,394 shares of company stock valued at $12,357,382 over the last three months. Corporate insiders own 26.87% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TTD. Nationwide Fund Advisors boosted its stake in The Trade Desk by 181.5% during the 1st quarter. Nationwide Fund Advisors now owns 2,829 shares of the technology company’s stock valued at $105,000 after purchasing an additional 1,824 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of The Trade Desk by 169.4% during the 1st quarter. Bank of New York Mellon Corp now owns 31,797 shares of the technology company’s stock valued at $1,184,000 after acquiring an additional 19,992 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of The Trade Desk during the 1st quarter valued at $952,000. American International Group Inc. acquired a new stake in shares of The Trade Desk during the 1st quarter valued at $126,000. Finally, FMR LLC lifted its position in shares of The Trade Desk by 2,598.3% during the 1st quarter. FMR LLC now owns 1,397,700 shares of the technology company’s stock valued at $52,064,000 after acquiring an additional 1,345,900 shares during the last quarter. 63.08% of the stock is owned by hedge funds and other institutional investors.
About The Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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