Trade Desk (NASDAQ:TTD) Cut to Hold at StockNews.com

Trade Desk (NASDAQ:TTD - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

A number of other research analysts have also issued reports on the company. Loop Capital lifted their target price on Trade Desk from $109.00 to $120.00 and gave the company a "buy" rating in a report on Monday, August 26th. Royal Bank of Canada upped their target price on shares of Trade Desk from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 9th. Susquehanna lifted their price target on shares of Trade Desk from $110.00 to $135.00 and gave the stock a "positive" rating in a research note on Friday, August 9th. Moffett Nathanson started coverage on shares of Trade Desk in a research report on Monday. They issued a "neutral" rating and a $100.00 price objective on the stock. Finally, Robert W. Baird raised their price objective on shares of Trade Desk from $110.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.71.

Trade Desk Stock Up 2.1 %

NASDAQ TTD traded up $2.26 during trading on Tuesday, hitting $110.79. The stock had a trading volume of 2,379,862 shares, compared to its average volume of 3,964,454. The company has a market capitalization of $54.19 billion, a PE ratio of 271.33, a PEG ratio of 5.07 and a beta of 1.48. The firm has a 50 day moving average price of $98.92 and a 200 day moving average price of $93.27. Trade Desk has a twelve month low of $60.23 and a twelve month high of $111.80.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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 firm had revenue of $584.55 million during the quarter, compared to analysts' expectations of $578.03 million. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, sell-side analysts anticipate that Trade Desk will post 0.86 earnings per share for the current year.

Insider Activity at Trade Desk

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $98.37, for a total value of $133,291.35. Following the sale, the director now directly 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 link. In other Trade Desk news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $98.37, for a total transaction of $133,291.35. Following the completion of the transaction, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the completion of the sale, the chief executive officer now owns 380,832 shares in the company, valued at $39,682,694.40. The disclosure for this sale can be found here. Insiders sold a total of 596,748 shares of company stock worth $61,010,053 over the last 90 days. Company insiders own 10.18% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the stock. Apella Capital LLC raised its position in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company's stock valued at $547,000 after buying an additional 100 shares during the last quarter. Wealth Alliance lifted its stake in shares of Trade Desk by 0.6% during the 2nd quarter. Wealth Alliance now owns 18,535 shares of the technology company's stock worth $1,810,000 after purchasing an additional 106 shares during the period. RFP Financial Group LLC lifted its stake in shares of Trade Desk by 26.4% during the 2nd quarter. RFP Financial Group LLC now owns 555 shares of the technology company's stock worth $54,000 after purchasing an additional 116 shares during the period. HBK Sorce Advisory LLC boosted its holdings in shares of Trade Desk by 2.0% during the second quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company's stock worth $612,000 after purchasing an additional 125 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Trade Desk by 4.5% in the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company's stock valued at $297,000 after purchasing an additional 127 shares during the period. Hedge funds and other 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.