The Trade Desk, Inc. (NASDAQ:TTD) Director David B. Wells Sells 28,638 Shares

The Trade Desk, Inc. (NASDAQ:TTD) Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Trade Desk Stock Down 2.1%

Shares of TTD stock opened at $77.50 on Friday. The firm has a market cap of $38.45 billion, a P/E ratio of 99.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 12-month low of $42.96 and a 12-month high of $141.53. The business has a 50-day moving average price of $55.77 and a two-hundred day moving average price of $94.21.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Trade Desk’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. As a group, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of Trade Desk in a report on Thursday. Citizens Jmp decreased their price target on Trade Desk from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. Oppenheimer increased their price target on Trade Desk from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Piper Sandler raised their target price on Trade Desk from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Institutional Trading of Trade Desk

Hedge funds have recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in Trade Desk in the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its stake in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Institutional investors own 67.77% of the company’s stock.

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.