Trade Desk (NASDAQ:TTD) Shares Down 7.6%

The Trade Desk, Inc. (NASDAQ:TTD) traded down 7.6% on Wednesday . The stock traded as low as $92.49 and last traded at $93.20. 2,394,384 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 4,100,694 shares. The stock had previously closed at $100.90.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $105.00 price objective on shares of Trade Desk in a report on Thursday, May 16th. Stifel Nicolaus raised their price target on shares of Trade Desk from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BMO Capital Markets reissued an “outperform” rating and set a $108.00 price objective (up from $107.00) on shares of Trade Desk in a report on Thursday, May 9th. Susquehanna restated a “positive” rating and issued a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Finally, Citigroup lifted their price target on Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

Trade Desk Trading Down 11.5 %

The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 233.01, a PEG ratio of 5.14 and a beta of 1.48. The stock has a 50-day moving average price of $96.74 and a 200 day moving average price of $85.57.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The business had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Equities research analysts anticipate that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $84.47, for a total transaction of $6,335,250.00. Following the completion of the sale, the chief executive officer now directly owns 824,022 shares in the company, valued at $69,605,138.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trade Desk news, CFO Laura Schenkein sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $100.43, for a total value of $2,510,750.00. Following the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at approximately $70,606,106.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $84.47, for a total value of $6,335,250.00. Following the completion of the sale, the chief executive officer now owns 824,022 shares of the company’s stock, valued at $69,605,138.34. The disclosure for this sale can be found here. Insiders sold 362,554 shares of company stock valued at $33,414,310 over the last quarter. 10.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. boosted its position in shares of Trade Desk by 119.9% during the 1st quarter. Pinnacle Bancorp Inc. now owns 299 shares of the technology company’s stock valued at $26,000 after acquiring an additional 163 shares during the last quarter. Riverview Trust Co acquired a new position in Trade Desk in the 1st quarter valued at about $27,000. Bogart Wealth LLC boosted its holdings in Trade Desk by 194.7% in the 1st quarter. Bogart Wealth LLC now owns 336 shares of the technology company’s stock valued at $29,000 after purchasing an additional 222 shares during the last quarter. Level Financial Advisors Inc. grew its stake in shares of Trade Desk by 50.0% in the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after buying an additional 150 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Trade Desk by 889.4% during the 4th quarter. Jones Financial Companies Lllp now owns 465 shares of the technology company’s stock worth $33,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.