The Trade Desk, Inc. (NASDAQ:TTD) Short Interest Update

The Trade Desk, Inc. (NASDAQ:TTD) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 23,460,000 shares, a growth of 43.0% from the February 28th total of 16,410,000 shares. Based on an average daily volume of 8,430,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 5.3% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages recently commented on TTD. Royal Bank of Canada reduced their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, March 17th. UBS Group increased their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Scotiabank dropped their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Wolfe Research upped their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $110.00 price objective (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Down 2.5 %

Trade Desk stock opened at $55.85 on Friday. The company’s 50-day moving average price is $85.01 and its two-hundred day moving average price is $108.37. The stock has a market cap of $27.71 billion, a price-to-earnings ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63. Trade Desk has a 52 week low of $53.39 and a 52 week high of $141.53.

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

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

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. 111 Capital acquired a new stake in shares of Trade Desk during the 4th quarter valued at $562,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Trade Desk during the fourth quarter worth $17,176,000. Centaurus Financial Inc. lifted its holdings in shares of Trade Desk by 84.2% during the fourth 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 acquired a new position in shares of Trade Desk in the 4th quarter valued at $591,000. Finally, Lighthouse Financial LLC purchased a new position in Trade Desk in the 4th quarter worth about $3,536,000. 67.77% of the stock is currently owned by institutional investors.

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.