Trade Desk (NASDAQ:TTD) Hits New 52-Week High – Should You Buy?

The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week high on Friday . The stock traded as high as $121.39 and last traded at $121.25, with a volume of 239837 shares trading hands. The stock had previously closed at $118.21.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley raised their price objective on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Stifel Nicolaus raised their price objective on Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Moffett Nathanson began coverage on Trade Desk in a report on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. Evercore ISI upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, August 6th. Finally, Citigroup lifted their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $112.97.

Trade Desk Stock Up 1.1 %

The company has a 50 day simple moving average of $109.08 and a 200-day simple moving average of $98.33. The stock has a market cap of $58.44 billion, a price-to-earnings ratio of 298.68, a PEG ratio of 5.73 and a beta of 1.48.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $584.55 million for the quarter, compared to analysts’ expectations of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. On average, equities research analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Insider Transactions at Trade Desk

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at $39,682,694.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now directly owns 3,516 shares of the company’s stock, valued at $351,846.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. 10.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new stake in shares of Trade Desk during the 2nd quarter valued at $30,000. EdgeRock Capital LLC acquired a new position in Trade Desk during the second quarter worth $37,000. Quarry LP acquired a new position in Trade Desk during the second quarter worth $41,000. Brown Lisle Cummings Inc. grew its position in shares of Trade Desk by 66.7% in the third quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Trade Desk by 194.5% in the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after purchasing an additional 247 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.