Trade Desk (NASDAQ:TTD) Hits New 52-Week High at $110.50

The Trade Desk, Inc. (NASDAQ:TTD)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $110.50 and last traded at $110.50, with a volume of 22488 shares traded. The stock had previously closed at $108.02.

Analysts Set New Price Targets

TTD has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Trade Desk from $112.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price target (up previously from $105.00) on shares of Trade Desk in a research report on Friday, August 9th. KeyCorp lifted their price objective on Trade Desk from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Trade Desk in a report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price target on shares of Trade Desk in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $109.05.

Trade Desk Price Performance

The business has a 50 day moving average price of $98.75 and a 200 day moving average price of $92.92. The stock has a market capitalization of $53.83 billion, a PE ratio of 273.78, a PEG ratio of 5.07 and a beta of 1.48.

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

Insider Buying and Selling at Trade Desk

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 sale, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gokul Rajaram sold 1,355 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the sale, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay R. Grant sold 141,434 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 188,236 shares in the company, valued at approximately $18,337,951.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 596,748 shares of company stock worth $61,010,053. Insiders own 10.18% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently made changes to their positions in TTD. Vanguard Group Inc. grew its holdings in Trade Desk by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Trade Desk by 10.5% during 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 buying an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. grew its stake 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 valued at $211,500,000 after acquiring an additional 100,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in Trade Desk by 10.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,214,832 shares of the technology company’s stock worth $159,379,000 after acquiring 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 1st 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 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.