Trade Desk (NASDAQ:TTD) Shares Gap Up to $81.07

The Trade Desk, Inc. (NASDAQ:TTD)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $81.07, but opened at $84.50. Trade Desk shares last traded at $84.02, with a volume of 1,451,581 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Trade Desk from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Truist Financial raised their target price on Trade Desk from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Stephens reaffirmed an “overweight” rating and set a $85.00 price target on shares of Trade Desk in a research report on Friday, February 16th. Susquehanna increased their price objective on Trade Desk from $75.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, February 16th. Finally, BMO Capital Markets boosted their target price on Trade Desk from $88.00 to $107.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $89.75.

Trade Desk Stock Down 0.5 %

The company has a fifty day simple moving average of $83.40 and a 200 day simple moving average of $75.68. The firm has a market capitalization of $40.75 billion, a P/E ratio of 231.51, a P/E/G ratio of 4.62 and a beta of 1.50.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The firm had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. As a group, equities analysts expect that The Trade Desk, Inc. will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of Trade Desk stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $81.77, for a total value of $6,132,750.00. Following the completion of the sale, the chief executive officer now owns 1,551,987 shares of the company’s stock, valued at approximately $126,905,976.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of Trade Desk stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $89.53, for a total value of $191,236.08. Following the completion of the sale, the insider now owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 75,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $81.77, for a total value of $6,132,750.00. Following the transaction, the chief executive officer now directly owns 1,551,987 shares in the company, valued at $126,905,976.99. The disclosure for this sale can be found here. Insiders sold a total of 492,170 shares of company stock worth $41,250,398 in the last three months. Insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently bought and sold shares of TTD. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Trade Desk during the 1st quarter valued at about $3,632,000. Latitude Advisors LLC bought a new stake in Trade Desk during the first quarter valued at approximately $228,000. Bogart Wealth LLC increased its holdings in Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after buying an additional 222 shares during the last quarter. New York State Teachers Retirement System raised its position in Trade Desk by 217.7% in the first quarter. New York State Teachers Retirement System now owns 11,596 shares of the technology company’s stock worth $1,014,000 after acquiring an additional 7,946 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Trade Desk by 3.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 98,772 shares of the technology company’s stock worth $8,635,000 after acquiring an additional 3,200 shares during the last quarter. 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.