Trade Desk (NASDAQ:TTD) Given New $120.00 Price Target at Truist Financial

Trade Desk (NASDAQ:TTD) had its price objective hoisted by Truist Financial from $108.00 to $120.00 in a report published on Wednesday, Marketbeat reports. They currently have a buy rating on the technology company’s stock.

TTD has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on Trade Desk from $110.00 to $120.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Stifel Nicolaus restated a buy rating and issued a $111.00 price target (up from $105.00) on shares of Trade Desk in a research note on Friday, August 9th. Loop Capital lifted their price objective on shares of Trade Desk from $109.00 to $120.00 and gave the company a buy rating in a research report on Monday, August 26th. Wedbush restated an outperform rating and set a $115.00 target price (up previously from $110.00) on shares of Trade Desk in a research report on Thursday, September 12th. Finally, Wolfe Research started coverage on Trade Desk in a research report on Tuesday, July 16th. They set an outperform rating and a $115.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $109.89.

Trade Desk Stock Up 1.4 %

TTD stock opened at $113.00 on Wednesday. Trade Desk has a twelve month low of $60.23 and a twelve month high of $113.84. The stock has a market cap of $55.27 billion, a P/E ratio of 282.50, a PEG ratio of 5.23 and a beta of 1.48. The business’s 50-day moving average price is $101.52 and its 200-day moving average price is $95.10.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million during the quarter, compared to analysts’ expectations of $578.03 million. During the same period in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities research analysts expect that Trade Desk will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 135,922 shares of Trade Desk 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 completion of the sale, the chief executive officer now owns 664,261 shares in the company, valued at $68,897,150.92. This trade 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 135,922 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $103.72, for a total value of $14,097,829.84. Following the transaction, the chief executive officer now owns 664,261 shares of the company’s stock, valued at $68,897,150.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction 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 transaction, the director now owns 32,701 shares in the company, valued at $3,216,797.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,077,248 shares of company stock valued at $115,353,156 in the last quarter. 10.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. Pinnacle Bancorp Inc. boosted its position in Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Trade Desk during the 1st quarter worth $27,000. Transcendent Capital Group LLC bought a new stake in Trade Desk during the second quarter valued at about $30,000. Jones Financial Companies Lllp grew its stake in Trade Desk by 889.4% in the fourth quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock valued at $33,000 after purchasing an additional 418 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Trade Desk in the second quarter worth about $37,000. 67.77% of the stock is currently 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.