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

The Trade Desk, Inc. (NASDAQ:TTD) 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 changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TTD. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Trade Desk in a research report on Thursday, March 21st. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Trade Desk in a research report on Friday, February 16th. Benchmark boosted their price target on Trade Desk from $32.00 to $42.00 and gave the company a “sell” rating in a report on Friday, February 16th. BTIG Research boosted their price target on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial boosted their price target on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.75.

Trade Desk Stock Performance

The stock has a market capitalization of $41.27 billion, a PE ratio of 225.20, a price-to-earnings-growth ratio of 4.29 and a beta of 1.50. The stock’s 50 day moving average is $83.05 and its two-hundred day moving average is $75.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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). Trade Desk had a net margin of 9.19% and a return on equity of 8.59%. The company had revenue of $605.80 million during the quarter, compared to analysts’ expectations of $582.61 million. Equities research analysts expect that The Trade Desk, Inc. will post 0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 2,136 shares of the firm’s 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 transaction, the insider now directly owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Samantha Jacobson sold 15,006 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $83.57, for a total transaction of $1,254,051.42. Following the completion of the sale, the insider now owns 52,387 shares in the company, valued at approximately $4,377,981.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 2,136 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $89.53, for a total transaction of $191,236.08. Following the sale, the insider now owns 139,794 shares of the company’s stock, valued at approximately $12,515,756.82. The disclosure for this sale can be found here. Insiders have sold 492,170 shares of company stock valued at $41,250,398 in the last ninety days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Trade Desk by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 41,740,769 shares of the technology company’s stock valued at $3,003,666,000 after purchasing an additional 818,568 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Trade Desk by 91.7% in the fourth quarter. Jennison Associates LLC now owns 14,586,150 shares of the technology company’s stock worth $1,049,619,000 after acquiring an additional 6,978,352 shares in the last quarter. Invesco Ltd. grew its stake in shares of Trade Desk by 9.6% in the third quarter. Invesco Ltd. now owns 5,899,407 shares of the technology company’s stock worth $461,039,000 after acquiring an additional 517,842 shares in the last quarter. Norges Bank acquired a new position in shares of Trade Desk in the fourth quarter worth $255,316,000. Finally, Northern Trust Corp grew its stake in shares of Trade Desk by 3.6% in the third quarter. Northern Trust Corp now owns 2,861,069 shares of the technology company’s stock worth $223,593,000 after acquiring an additional 98,286 shares in the last quarter. Institutional investors and hedge funds 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.