Trade Desk (NASDAQ:TTD) Trading Down 1.7%

The Trade Desk, Inc. (NASDAQ:TTD)’s share price was down 1.7% during trading on Monday . The company traded as low as $77.12 and last traded at $81.69. Approximately 1,506,580 shares traded hands during trading, a decline of 63% from the average daily volume of 4,107,271 shares. The stock had previously closed at $83.08.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TTD shares. Citigroup lifted their price objective on Trade Desk from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Morgan Stanley raised their price target on Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price on shares of Trade Desk in a research note on Tuesday, June 11th. Truist Financial restated a “buy” rating and set a $105.00 price objective on shares of Trade Desk in a research report on Thursday, May 16th. Finally, DA Davidson raised their price target on Trade Desk from $95.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.17.

Trade Desk Stock Performance

The stock has a market cap of $40.71 billion, a P/E ratio of 208.06, a P/E/G ratio of 4.26 and a beta of 1.48. The company has a 50-day simple moving average of $95.97 and a 200-day simple moving average of $86.83.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $491.25 million during the quarter, compared to the consensus estimate of $480.03 million. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the completion of the sale, the insider now owns 188,236 shares in the company, valued at $18,337,951.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Laura Schenkein sold 25,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $100.43, for a total transaction of $2,510,750.00. Following the completion of the transaction, the chief financial officer now directly owns 703,038 shares of the company’s stock, valued at $70,606,106.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 141,434 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $97.42, for a total value of $13,778,500.28. Following the transaction, the insider now directly owns 188,236 shares of the company’s stock, valued at $18,337,951.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,909 shares of company stock worth $20,827,601. 10.18% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Apella Capital LLC increased its stake in shares of Trade Desk by 1.9% during the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after purchasing an additional 100 shares during the period. RFP Financial Group LLC increased its stake in shares of Trade Desk by 26.4% during the second quarter. RFP Financial Group LLC now owns 555 shares of the technology company’s stock worth $54,000 after purchasing an additional 116 shares during the period. Diversify Advisory Services LLC increased its stake in shares of Trade Desk by 4.5% during the second quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock worth $297,000 after purchasing an additional 127 shares during the period. Mayflower Financial Advisors LLC increased its stake in shares of Trade Desk by 3.2% during the second quarter. Mayflower Financial Advisors LLC now owns 4,187 shares of the technology company’s stock worth $409,000 after purchasing an additional 129 shares during the period. Finally, Brookstone Capital Management grew its position in Trade Desk by 3.0% during the second quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock worth $439,000 after buying an additional 135 shares in the last quarter. Institutional investors 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.