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

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price gapped up before the market opened 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

Several analysts have issued reports on TTD shares. KeyCorp upped their price target on shares of Trade Desk from $84.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Truist Financial raised their target price on shares of Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Stifel Nicolaus upped their price objective on Trade Desk from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Oppenheimer raised their price objective on Trade Desk from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, BTIG Research increased their price target on Trade Desk from $91.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.75.

Trade Desk Price Performance

The firm has a market cap of $40.75 billion, a P/E ratio of 231.51, a PEG ratio of 4.62 and a beta of 1.50. The company’s 50-day moving average is $83.40 and its two-hundred day moving average is $75.68.

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). The firm had revenue of $605.80 million for the quarter, compared to the consensus estimate of $582.61 million. Trade Desk had a return on equity of 8.59% and a net margin of 9.19%. On average, analysts expect that The Trade Desk, Inc. will post 0.79 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Trade Desk

Several large investors have recently bought and sold shares of TTD. Pinnacle Bancorp Inc. increased its stake in shares of Trade Desk by 119.9% in the first quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after buying an additional 163 shares during the period. Riverview Trust Co bought a new stake in Trade Desk during the 1st quarter worth approximately $27,000. NBC Securities Inc. acquired a new position in Trade Desk in the 3rd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in shares of Trade Desk during the third quarter valued at $26,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Trade Desk by 194.7% during the first quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock worth $29,000 after purchasing an additional 222 shares during the period. 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.