Shares of The Trade Desk Inc. (NASDAQ:TTD) gapped down prior to trading on Monday . The stock had previously closed at $67.21, but opened at $59.28. The Trade Desk shares last traded at $50.99, with a volume of 9841200 shares traded.
Several brokerages have issued reports on TTD. Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective (up previously from $56.00) on shares of The Trade Desk in a research note on Friday, August 11th. Vetr raised shares of The Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.76 price objective for the company in a research note on Thursday, November 9th. BidaskClub downgraded shares of The Trade Desk from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price target (up previously from $56.00) on shares of The Trade Desk in a research note on Friday, August 11th. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $55.00 price target on shares of The Trade Desk in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $67.07.
The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1,973.96, a P/E ratio of 46.54 and a beta of 7.32.
In other The Trade Desk news, insider David Randall Pickles sold 75,000 shares of The Trade Desk stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $49.91, for a total value of $3,743,250.00. Following the transaction, the insider now directly owns 127,736 shares of the company’s stock, valued at $6,375,303.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 7,689 shares of The Trade Desk stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $61.90, for a total transaction of $475,949.10. Following the completion of the transaction, the chief executive officer now directly owns 109,711 shares in the company, valued at $6,791,110.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,894 shares of company stock worth $13,222,997. 26.87% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTD. AHL Partners LLP purchased a new stake in shares of The Trade Desk during the second quarter valued at $373,000. Quantum Capital Management LLC NJ purchased a new stake in shares of The Trade Desk during the second quarter valued at $3,787,000. American International Group Inc. purchased a new stake in shares of The Trade Desk during the first quarter valued at $126,000. Deane Retirement Strategies Inc. purchased a new stake in shares of The Trade Desk during the third quarter valued at $2,032,000. Finally, Balyasny Asset Management LLC purchased a new stake in shares of The Trade Desk during the second quarter valued at $6,194,000. 62.66% of the stock is currently owned by institutional investors and hedge funds.
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About The 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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