Samantha Jacobson, Chief Strategy Officer at Trade Desk, Inc. (NASDAQ:TTD), recently executed a series of transactions involving the company's Class A common stock. On November 29, Jacobson sold shares totaling approximately $2.8 million. These sales were conducted at prices ranging from $127.89 to $128.72 per share, notably below the current trading price of $139.18. This activity was part of a 10b5-1 trading plan, which allows insiders to set up a predetermined trading schedule. The stock has shown remarkable strength, gaining nearly 88% year-to-date, according to InvestingPro data.
In addition to the sales, Jacobson also acquired shares through multiple transactions, with a total value of approximately $1.26 million. The acquisition prices ranged from $59.57 to $81.07 per share. Following these transactions, Jacobson holds 90,709 shares directly in the $68.46 billion market cap company. InvestingPro analysis indicates the company maintains an impressive gross profit margin of 81% and receives a "GREAT" financial health score, though current valuations suggest the stock may be trading above its Fair Value.
In other recent news, The Trade Desk, a leading player in the digital advertising market, has been the subject of multiple analyst evaluations and significant company developments. The company made headlines with its announcement of a potential merger with Roku (NASDAQ:ROKU), a speculation sparked by Guggenheim analyst Michael Morris. The Trade Desk also made waves with its unveiling of Ventura, a new streaming TV operating system set to launch in 2025. This strategic technology aims to increase overall advertising spend within the streaming media sector.
Analyst firms have updated their outlook on The Trade Desk with Loop Capital maintaining a Buy rating and a price target of $145.00. New Street Research upgraded the company's rating from "Reduce" to "Neutral," raising the price target to $115. Macquarie maintained an Outperform rating and increased the stock's price target to $150.00. Jefferies reaffirmed its Buy rating with a steady price target of $138.00. These adjustments reflect the company's strong third-quarter results and future projections.
In terms of financial performance, The Trade Desk announced a 27% year-over-year revenue increase in the third quarter of 2024, reaching $628 million, largely driven by growth in its Connected TV (CTV) advertising. The company also expects a 25% year-over-year growth for the fourth quarter, with a revenue projection of at least $756 million. These are among the recent developments that investors should consider when evaluating The Trade Desk.
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