Trade Desk (NASDAQ:TTD) Sees Strong Trading Volume – Should You Buy?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) saw an uptick in trading volume on Friday . 4,031,881 shares changed hands during trading, a decline of 8% from the previous session’s volume of 4,387,067 shares.The stock last traded at $54.19 and had previously closed at $53.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TTD shares. Morgan Stanley lowered their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Royal Bank of Canada reduced their target price on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets lowered their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Robert W. Baird decreased their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Trading Up 0.3 %

The business’s 50 day moving average price is $99.14 and its two-hundred day moving average price is $111.81. The stock has a market cap of $26.80 billion, a P/E ratio of 69.23, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Trade Desk during the fourth quarter valued at $17,176,000. Centaurus Financial Inc. increased its position in shares of Trade Desk by 84.2% during the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after purchasing an additional 2,965 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new position in shares of Trade Desk in the 4th quarter worth approximately $591,000. Lighthouse Financial LLC purchased a new position in shares of Trade Desk in the fourth quarter worth approximately $3,536,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Trade Desk during the fourth quarter valued at approximately $117,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Company Profile

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.