Trade Desk (NASDAQ:TTD) Shares Gap Down Following Insider Selling

The Trade Desk, Inc. (NASDAQ:TTD)’s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $117.94, but opened at $113.76. Trade Desk shares last traded at $114.54, with a volume of 1,086,293 shares traded.

Specifically, CEO Jeffrey Terry Green sold 143,985 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $121.82, for a total transaction of $17,540,252.70. Following the transaction, the chief executive officer now directly owns 3,700 shares of the company’s stock, valued at $450,734. This represents a 97.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 $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.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TTD. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $110.00 target price on shares of Trade Desk in a research report on Monday, October 7th. Oppenheimer upped their price target on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research upped their price target on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Benchmark reiterated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $133.13.

Trade Desk Stock Performance

The firm has a market capitalization of $56.81 billion, a P/E ratio of 188.85, a price-to-earnings-growth ratio of 3.75 and a beta of 1.45. The firm has a 50-day moving average of $125.25 and a 200-day moving average of $114.56.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $628.02 million during the quarter, compared to the consensus estimate of $619.89 million. Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities analysts anticipate that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently added to or reduced their stakes in TTD. World Equity Group Inc. lifted its holdings in shares of Trade Desk by 104.3% during the fourth quarter. World Equity Group Inc. now owns 6,288 shares of the technology company’s stock valued at $739,000 after purchasing an additional 3,210 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Trade Desk by 0.8% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,672 shares of the technology company’s stock valued at $11,714,000 after acquiring an additional 800 shares during the last quarter. Ascent Wealth Partners LLC increased its position in Trade Desk by 18.0% in the fourth quarter. Ascent Wealth Partners LLC now owns 36,752 shares of the technology company’s stock worth $4,319,000 after buying an additional 5,614 shares in the last quarter. Howard Capital Management Inc. increased its position in Trade Desk by 3.1% in the fourth quarter. Howard Capital Management Inc. now owns 15,579 shares of the technology company’s stock worth $1,831,000 after buying an additional 464 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Trade Desk by 21.4% in the fourth quarter. First Horizon Advisors Inc. now owns 3,051 shares of the technology company’s stock worth $359,000 after buying an additional 537 shares in the last quarter. 67.77% of the stock is 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.