Trade Desk (TTD) Shares Up 6.7%
Trade Desk Inc (NASDAQ:TTD)’s share price shot up 6.7% during mid-day trading on Monday . The company traded as high as $49.29 and last traded at $48.30. 1,572,795 shares traded hands during trading, an increase of 66% from the average session volume of 945,427 shares. The stock had previously closed at $45.25.
A number of research firms have recently issued reports on TTD. BidaskClub downgraded Trade Desk from a “hold” rating to a “sell” rating in a research report on Thursday. SunTrust Banks raised Trade Desk from a “hold” rating to a “buy” rating and increased their price target for the stock from $45.25 to $55.00 in a research report on Monday. Susquehanna Bancshares reissued a “positive” rating and set a $66.00 price target (up previously from $60.00) on shares of Trade Desk in a research report on Monday, August 14th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Trade Desk in a research report on Monday, October 2nd. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $62.00 price target on shares of Trade Desk in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $67.07.
The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1,860.00 and a P/E ratio of 43.51.
Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, November 9th. The technology company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. The firm had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $76.84 million. Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. equities research analysts anticipate that Trade Desk Inc will post 1.29 earnings per share for the current fiscal year.
In other Trade Desk news, insider David Randall Pickles sold 70,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $60.89, for a total value of $4,262,300.00. Following the completion of the sale, the insider now directly owns 56,499 shares in the company, valued at $3,440,224.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Paul Ross sold 3,705 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $63.33, for a total value of $234,637.65. Following the completion of the sale, the chief financial officer now owns 53,451 shares of the company’s stock, valued at $3,385,051.83. The disclosure for this sale can be found here. Insiders have sold a total of 151,894 shares of company stock valued at $9,180,577 over the last 90 days. 26.87% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. raised its stake in shares of Trade Desk by 0.3% in the second quarter. Alps Advisors Inc. now owns 11,617 shares of the technology company’s stock worth $582,000 after purchasing an additional 30 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Trade Desk by 9.0% in the second quarter. Royal Bank of Canada now owns 8,676 shares of the technology company’s stock worth $435,000 after purchasing an additional 720 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Trade Desk by 57.7% in the third quarter. Great West Life Assurance Co. Can now owns 2,838 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,038 shares during the last quarter. Optimum Investment Advisors raised its stake in shares of Trade Desk by 22.6% in the third quarter. Optimum Investment Advisors now owns 6,500 shares of the technology company’s stock worth $400,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Trade Desk by 22.9% in the second quarter. Quantbot Technologies LP now owns 7,488 shares of the technology company’s stock worth $375,000 after purchasing an additional 1,395 shares during the last quarter. Institutional investors own 65.46% of the company’s stock.
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About Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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