Trade Desk (TTD) Stock Price Up 0% Following Better-Than-Expected Earnings

Trade Desk Inc (NASDAQ:TTD) shares rose 0% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $60.19 and last traded at $59.94. Approximately 6,227,162 shares were traded during mid-day trading, an increase of 508% from the average daily volume of 1,024,912 shares. The stock had previously closed at $59.94.

The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Trade Desk had a return on equity of 24.34% and a net margin of 15.93%. The business had revenue of $102.60 million during the quarter, compared to analyst estimates of $101.71 million. During the same period last year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis.

A number of research firms recently issued reports on TTD. Vetr lowered Trade Desk from a “strong-buy” rating to a “buy” rating and set a $54.47 target price for the company. in a report on Thursday, January 11th. Zacks Investment Research upgraded Trade Desk from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a report on Thursday, January 11th. Stifel Nicolaus set a $69.00 target price on Trade Desk and gave the company a “buy” rating in a report on Friday. Wells Fargo & Co reiterated a “buy” rating and issued a $62.00 target price on shares of Trade Desk in a report on Friday. Finally, BidaskClub upgraded Trade Desk from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Trade Desk has a consensus rating of “Buy” and an average price target of $64.31.

In other Trade Desk news, COO Robert David Perdue sold 7,500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $48.08, for a total value of $360,600.00. Following the sale, the chief operating officer now directly owns 97,983 shares in the company, valued at $4,711,022.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian John Stempeck sold 10,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $49.59, for a total value of $495,900.00. Following the completion of the sale, the insider now owns 44,550 shares in the company, valued at $2,209,234.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,424 shares of company stock worth $4,764,783. 26.87% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. acquired a new stake in shares of Trade Desk during the second quarter worth about $1,252,000. GSA Capital Partners LLP increased its position in shares of Trade Desk by 48.2% during the third quarter. GSA Capital Partners LLP now owns 27,294 shares of the technology company’s stock worth $1,679,000 after purchasing an additional 8,875 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Trade Desk by 9.6% during the third quarter. Wells Fargo & Company MN now owns 72,312 shares of the technology company’s stock worth $4,447,000 after purchasing an additional 6,319 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Trade Desk by 22.9% during the third quarter. Bank of New York Mellon Corp now owns 106,617 shares of the technology company’s stock worth $6,558,000 after purchasing an additional 19,859 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Trade Desk by 23.6% during the third quarter. California State Teachers Retirement System now owns 37,957 shares of the technology company’s stock worth $2,335,000 after purchasing an additional 7,257 shares in the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $2,460.00 and a PE ratio of 58.76.

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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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