Trade Desk (NASDAQ:TTD) Trading Down 1.1% – Here’s Why

Shares of The Trade Desk, Inc. (NASDAQ:TTD) traded down 1.1% on Monday . The stock traded as low as $73.29 and last traded at $74.41. 1,075,758 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,030,336 shares. The stock had previously closed at $75.22.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group lowered their target price on shares of Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Truist Financial increased their price target on Trade Desk from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Macquarie boosted their price objective on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Jefferies Financial Group set a $125.00 target price on Trade Desk and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Susquehanna reduced their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.12.

Trade Desk Trading Up 2.1%

The stock has a market capitalization of $37.32 billion, a price-to-earnings ratio of 97.28, a PEG ratio of 3.11 and a beta of 1.29. The company’s 50-day simple moving average is $60.48 and its 200-day simple moving average is $89.60.

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

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the fourth quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter valued at about $34,000. Zions Bancorporation N.A. raised its position in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Trade Desk in the 4th quarter worth approximately $39,000. 67.77% of the stock is owned by hedge funds and other 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.