Trade Desk (NASDAQ:TTD) Trading Down 2.9% – Here’s Why

The Trade Desk, Inc. (NASDAQ:TTD) traded down 2.9% during mid-day trading on Wednesday . The company traded as low as $65.60 and last traded at $65.64. 2,561,862 shares were traded during mid-day trading, a decline of 67% from the average session volume of 7,749,278 shares. The stock had previously closed at $67.60.

Analyst Ratings Changes

TTD has been the topic of a number of recent research reports. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. KeyCorp raised their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Citigroup dropped their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus cut their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given 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 a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Price Performance

The company has a 50 day moving average of $107.39 and a 200-day moving average of $114.00. The company has a market cap of $32.77 billion, a P/E ratio of 84.42, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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 anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. Ithaka Group LLC boosted its stake in shares of Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after purchasing an additional 4,836 shares during the period. Lyell Wealth Management LP boosted its position in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB grew its holdings in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after acquiring an additional 358,350 shares during the last quarter. Assetmark Inc. increased its position in shares of Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the period. Finally, Swiss National Bank raised its stake in shares of Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares during the last quarter. 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.