Trade Desk’s (TTD) “Overweight” Rating Reiterated at Piper Sandler

Trade Desk (NASDAQ:TTD)‘s stock had its “overweight” rating reissued by equities research analysts at Piper Sandler in a note issued to investors on Thursday, Benzinga reports. They currently have a $110.00 price objective on the technology company’s stock, up from their previous price objective of $105.00. Piper Sandler’s target price would indicate a potential upside of 27.88% from the company’s previous close.

TTD has been the topic of several other reports. Stephens restated an “overweight” rating and set a $85.00 target price on shares of Trade Desk in a report on Friday, February 16th. Truist Financial upped their target price on shares of Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Seaport Res Ptn reiterated a “neutral” rating on shares of Trade Desk in a report on Monday, February 12th. Stifel Nicolaus boosted their price target on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, BMO Capital Markets increased their price objective on Trade Desk from $88.00 to $107.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.59.

Trade Desk Stock Performance

TTD opened at $86.02 on Thursday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $94.00. The firm has a market cap of $42.06 billion, a PE ratio of 238.94, a price-to-earnings-growth ratio of 4.88 and a beta of 1.50. The firm’s fifty day moving average is $83.98 and its two-hundred day moving average is $76.09.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.05). Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. The business had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Equities analysts forecast that Trade Desk will post 0.79 EPS for the current fiscal year.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, Director Kathryn E. Falberg sold 103,030 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $81.90, for a total value of $8,438,157.00. Following the transaction, the director now directly owns 242,609 shares in the company, valued at $19,869,677.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jay R. Grant sold 2,136 shares of Trade Desk stock in a transaction on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the completion of the sale, the insider now owns 139,794 shares of the company’s stock, valued at $12,515,756.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn E. Falberg sold 103,030 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $81.90, for a total transaction of $8,438,157.00. Following the completion of the sale, the director now directly owns 242,609 shares of the company’s stock, valued at approximately $19,869,677.10. The disclosure for this sale can be found here. Insiders have sold 642,170 shares of company stock worth $53,970,398 over the last 90 days. Company insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC grew its holdings in shares of Trade Desk by 91.7% during the 4th quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after purchasing an additional 6,978,352 shares in the last quarter. Norges Bank bought a new stake in Trade Desk during the fourth quarter worth about $255,316,000. ARK Investment Management LLC grew its stake in Trade Desk by 1,162.0% during the fourth quarter. ARK Investment Management LLC now owns 2,149,654 shares of the technology company’s stock worth $154,689,000 after buying an additional 1,979,319 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Trade Desk in the 3rd quarter valued at about $99,035,000. Finally, International Assets Investment Management LLC raised its position in shares of Trade Desk by 6,600.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,091,561 shares of the technology company’s stock valued at $78,549,000 after buying an additional 1,075,269 shares in the last quarter. Institutional investors and hedge funds 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.