The Trade Desk (NASDAQ:TTD) President, CEO, and Director, Jeffrey Terry Green, recently exercised options to purchase shares of the company. The move reflects the insider’s confidence in the company’s near-term performance. TTD is a technology company that offers a platform for digital advertising.
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According to the SEC filing, Green exercised his options, which was awarded in 2019 and 2020. He bought 325,560 shares of Trade Desk’s common stock at an average price of $24.91 per share. The transaction value stood at $8.11 million and was undertaken on October 16.
As per the data collected by TipRanks, Green has witnessed an impressive 67% success rate on his trades in the past three months. Further, he has been able to generate an average return of 10.3% per transaction.
Neutral Insider Trading Signal
Overall, TipRanks’ Insider Trading Activity tool shows that the Insider Confidence Signal is currently Neutral on TTD. Corporate insiders have bought TTD stock worth $7.9 million in the last three months.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Insider’s Move Follows Q3 Results
It is worth highlighting that the insider’s purchase of Trade Desk shares comes after the release of its better-than-expected third-quarter results on November 9. Interestingly, TTD received 15 Buy ratings from Wall Street analysts following the release.
Shyam Patil of Susquehanna is one of the analysts who is optimistic about the company’s future. Patil highlighted that the company’s projected 22% year-over-year revenue growth surpasses most of its peers by a significant margin.
What is the Price Target for TTD Stock?
Overall, on TipRanks, Trade Desk has a Strong Buy consensus rating based on 18 Buys and one Hold rating. The average TTD stock price target of $81.18 implies 22.1% upside potential from current levels. Meanwhile, TTD stock has gained 51% so far this year.
