Trade Desk (TTD) Downgraded to Sell at BidaskClub
Trade Desk (NASDAQ:TTD) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. Jefferies Group reissued a “buy” rating and issued a $63.00 target price on shares of Trade Desk in a research report on Friday, November 10th. Royal Bank Of Canada lifted their target price on Trade Desk from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Vetr raised Trade Desk from a “buy” rating to a “strong-buy” rating and set a $71.76 price target on the stock in a research report on Thursday, November 9th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $55.00 price target on shares of Trade Desk in a research report on Monday, November 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.07.
Shares of Trade Desk (NASDAQ TTD) traded up $1.16 during trading on Thursday, reaching $45.34. The company had a trading volume of 1,181,698 shares, compared to its average volume of 942,978. Trade Desk has a 1-year low of $26.40 and a 1-year high of $67.30. The firm has a market cap of $1,851.20, a price-to-earnings ratio of 43.34 and a beta of 5.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56.
In related news, COO Robert David Perdue sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $48.08, for a total transaction of $360,600.00. Following the transaction, the chief operating officer now directly owns 97,983 shares of the company’s stock, valued at approximately $4,711,022.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul Ross sold 3,705 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $63.33, for a total value of $234,637.65. Following the transaction, the chief financial officer now directly owns 53,451 shares in the company, valued at $3,385,051.83. The disclosure for this sale can be found here. Insiders have sold a total of 151,894 shares of company stock worth $9,180,577 in the last ninety days. Insiders own 26.87% of the company’s stock.
Several hedge funds have recently bought and sold shares of TTD. TIAA CREF Investment Management LLC increased its holdings in shares of Trade Desk by 18.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 19,822 shares of the technology company’s stock worth $738,000 after acquiring an additional 3,033 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Trade Desk by 149.9% during the 1st quarter. Vanguard Group Inc. now owns 1,109,222 shares of the technology company’s stock worth $41,319,000 after acquiring an additional 665,330 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Trade Desk by 56.3% during the 1st quarter. Geode Capital Management LLC now owns 85,761 shares of the technology company’s stock worth $3,194,000 after acquiring an additional 30,879 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Trade Desk during the 2nd quarter worth approximately $401,000. Finally, Strs Ohio increased its holdings in shares of Trade Desk by 100.0% during the 2nd quarter. Strs Ohio now owns 6,800 shares of the technology company’s stock worth $340,000 after acquiring an additional 3,400 shares during the last quarter. 65.46% of the stock is currently owned by institutional investors and hedge funds.
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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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