Trade Desk’s (TTD) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Trade Desk (NASDAQ:TTD) in a report published on Monday morning, Benzinga reports. They currently have a $110.00 target price on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley upped their target price on Trade Desk from $100.00 to $110.00 and gave the company an overweight rating in a research report on Tuesday, July 23rd. Bank of America began coverage on Trade Desk in a report on Wednesday, September 4th. They issued a buy rating and a $135.00 price objective on the stock. Wolfe Research began coverage on Trade Desk in a report on Tuesday, July 16th. They set an outperform rating and a $115.00 target price for the company. Macquarie reiterated an outperform rating and issued a $115.00 price target on shares of Trade Desk in a report on Friday, August 9th. Finally, Moffett Nathanson initiated coverage on shares of Trade Desk in a research note on Monday. They set a neutral rating and a $100.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trade Desk has an average rating of Moderate Buy and a consensus price target of $108.71.

Trade Desk Stock Performance

TTD stock opened at $110.72 on Monday. Trade Desk has a one year low of $60.23 and a one year high of $111.80. The firm has a market cap of $54.43 billion, a price-to-earnings ratio of 276.81, a PEG ratio of 5.22 and a beta of 1.48. The firm has a 50-day simple moving average of $99.42 and a two-hundred day simple moving average of $93.59.

Trade Desk (NASDAQ:TTD) last issued its quarterly 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. The business had revenue of $584.55 million for the quarter, compared to the consensus estimate 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 posted $0.07 earnings per share. As a group, equities analysts predict that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 135,922 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the transaction, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total transaction of $14,097,829.84. Following the sale, the chief executive officer now owns 664,261 shares of the company’s stock, valued at approximately $68,897,150.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Laura Schenkein sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total value of $2,510,750.00. Following the completion of the transaction, the chief financial officer now owns 703,038 shares of the company’s stock, valued at $70,606,106.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 996,748 shares of company stock worth $104,640,053. 10.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently made changes to their positions in the stock. Apella Capital LLC grew its position in Trade Desk by 1.9% in the 2nd quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock valued at $547,000 after acquiring an additional 100 shares in the last quarter. Wealth Alliance increased its stake in 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 buying an additional 106 shares during the period. RFP Financial Group LLC lifted its holdings in 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 buying an additional 116 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Trade Desk by 2.0% in the second quarter. HBK Sorce Advisory LLC now owns 6,265 shares of the technology company’s stock worth $612,000 after acquiring an additional 125 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its position in shares of Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after acquiring an additional 127 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.