Trade Desk (NASDAQ:TTD) Shares Up 6.9%

Trade Desk Inc (NASDAQ:TTD) shares shot up 6.9% during trading on Friday . The company traded as high as $201.90 and last traded at $198.43, 2,596,397 shares changed hands during trading. An increase of 72% from the average session volume of 1,512,196 shares. The stock had previously closed at $185.65.

A number of research firms have recently commented on TTD. Nomura upgraded Trade Desk from a “reduce” rating to a “neutral” rating and lifted their target price for the stock from $165.00 to $175.00 in a research report on Thursday, September 26th. Royal Bank of Canada upgraded Trade Desk from a “sector perform” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Thursday. Citigroup cut Trade Desk from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $205.00 to $250.00 in a research report on Wednesday, July 24th. SunTrust Banks lifted their target price on Trade Desk from $206.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut Trade Desk from a “buy” rating to a “hold” rating and lifted their target price for the stock from $225.00 to $250.00 in a research report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $226.34.

The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $214.54 and a 200-day moving average of $222.95. The stock has a market cap of $8.35 billion, a PE ratio of 89.69, a price-to-earnings-growth ratio of 3.65 and a beta of 2.71.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.51. Trade Desk had a return on equity of 23.63% and a net margin of 17.44%. The firm had revenue of $159.90 million for the quarter, compared to analyst estimates of $155.26 million. During the same quarter last year, the company posted $0.60 earnings per share. The business’s revenue was up 42.4% on a year-over-year basis. Equities research analysts forecast that Trade Desk Inc will post 1.85 earnings per share for the current fiscal year.

In other Trade Desk news, insider Vivian Yang sold 4,668 shares of Trade Desk stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $246.44, for a total value of $1,150,381.92. Following the sale, the insider now owns 43,366 shares of the company’s stock, valued at approximately $10,687,117.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul Ross sold 2,682 shares of Trade Desk stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $180.84, for a total value of $485,012.88. Following the completion of the sale, the chief financial officer now directly owns 37,784 shares in the company, valued at approximately $6,832,858.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 478,212 shares of company stock worth $122,327,262. Corporate insiders own 17.44% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. CSat Investment Advisory L.P. purchased a new stake in Trade Desk in the 2nd quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new stake in Trade Desk in the 2nd quarter valued at approximately $34,000. Coastal Investment Advisors Inc. purchased a new stake in Trade Desk in the 2nd quarter valued at approximately $34,000. Valeo Financial Advisors LLC boosted its holdings in Trade Desk by 59.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 159 shares of the technology company’s stock valued at $36,000 after purchasing an additional 59 shares in the last quarter. Finally, Banco de Sabadell S.A purchased a new stake in Trade Desk in the 2nd quarter valued at approximately $36,000. 65.64% of the stock is currently owned by institutional investors.

About Trade Desk (NASDAQ:TTD)

The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).

Further Reading: Oversold

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