Trade Desk (NASDAQ:TTD) Sets New 12-Month High at $100.25

The Trade Desk, Inc. (NASDAQ:TTD) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $100.25 and last traded at $99.88, with a volume of 984772 shares trading hands. The stock had previously closed at $98.34.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Stifel Nicolaus boosted their target price on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Susquehanna restated a “positive” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Royal Bank of Canada upped their target price on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. BMO Capital Markets restated an “outperform” rating and issued a $108.00 target price (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Finally, Citigroup upped their target price on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.69.

Trade Desk Stock Up 1.1 %

The stock has a fifty day simple moving average of $93.60 and a 200 day simple moving average of $83.03. The firm has a market capitalization of $48.65 billion, a P/E ratio of 248.68, a PEG ratio of 5.09 and a beta of 1.48.

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

Insider Buying and Selling

In related news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the transaction, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the completion of the transaction, the chief executive officer now owns 824,022 shares in the company, valued at $69,605,138.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now owns 188,236 shares of the company’s stock, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,154 shares of company stock worth $31,128,226. Corporate insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Large investors have recently bought and sold shares of the business. Pinnacle Bancorp Inc. increased its position in shares of Trade Desk by 119.9% during the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock worth $26,000 after purchasing an additional 163 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Trade Desk in the 1st quarter valued at $27,000. Bogart Wealth LLC increased its position in shares of Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after acquiring an additional 222 shares during the period. Level Financial Advisors Inc. increased its position in shares of Trade Desk by 50.0% in the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of Trade Desk by 889.4% in the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. Institutional investors 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.