Trade Desk (NASDAQ:TTD) Earns Neutral Rating from Analysts at Moffett Nathanson

Moffett Nathanson assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “neutral” rating and a $100.00 price target on the technology company’s stock. Moffett Nathanson’s price target would suggest a potential downside of 8.68% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective on shares of Trade Desk in a research report on Tuesday, June 11th. BTIG Research boosted their price objective on shares of Trade Desk from $110.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer increased their target price on Trade Desk from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Robert W. Baird boosted their price target on Trade Desk from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Bank of America began coverage on Trade Desk in a research report on Wednesday, September 4th. They issued a “buy” rating and a $135.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.71.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $109.51 on Monday. Trade Desk has a 52 week low of $60.23 and a 52 week high of $111.80. The stock has a market capitalization of $53.56 billion, a price-to-earnings ratio of 273.78, a PEG ratio of 5.07 and a beta of 1.48. The firm has a fifty day moving average of $98.75 and a two-hundred day moving average of $93.08.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $578.03 million. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue was up 25.9% compared to the same quarter last year. As a group, research analysts forecast that Trade Desk will post 0.86 EPS for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’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 transaction of $13,778,500.28. Following the completion of the sale, the insider now directly owns 188,236 shares in the company, valued at $18,337,951.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jay R. Grant sold 141,434 shares of Trade Desk stock in a transaction on Friday, June 28th. The stock was sold at an average price of $97.42, for a total transaction of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares in the company, valued at $70,606,106.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 596,748 shares of company stock valued at $61,010,053. Company insiders own 10.18% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Trade Desk by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock worth $3,003,666,000 after purchasing an additional 818,568 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Trade Desk by 10.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after purchasing an additional 270,800 shares during the last quarter. Jericho Capital Asset Management L.P. raised its holdings in shares of Trade Desk by 4.3% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock worth $211,500,000 after buying an additional 100,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Trade Desk by 10.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock valued at $159,379,000 after buying an additional 209,222 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Trade Desk by 3.2% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,898,159 shares of the technology company’s stock worth $165,937,000 after acquiring an additional 59,161 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.