Short Interest in The Trade Desk, Inc. (NASDAQ:TTD) Increases By 32.8%

The Trade Desk, Inc. (NASDAQ:TTD) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 13,640,000 shares, a growth of 32.8% from the January 31st total of 10,270,000 shares. Based on an average daily trading volume, of 5,880,000 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

TTD has been the subject of several recent analyst reports. Susquehanna lowered their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Oppenheimer decreased their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wolfe Research boosted their target price on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird decreased their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Citigroup decreased their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Transactions at Trade Desk

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Focus Financial Network Inc. boosted its stake in Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after buying an additional 84 shares in the last quarter. CAP Partners LLC boosted its stake in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after buying an additional 86 shares in the last quarter. RMR Wealth Builders boosted its stake in Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after buying an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its stake in Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after buying an additional 94 shares in the last quarter. Finally, TFB Advisors LLC boosted its stake in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after buying an additional 94 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

Trade Desk Price Performance

Shares of TTD opened at $66.54 on Thursday. The company has a market cap of $33.01 billion, a P/E ratio of 85.31, a PEG ratio of 3.11 and a beta of 1.45. The stock has a fifty day moving average price of $107.39 and a 200 day moving average price of $114.00. Trade Desk has a 12 month low of $64.56 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued 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 return on equity of 16.38% and a net margin of 16.08%. As a group, research analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in 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 typically an indication that the company’s board believes its stock is undervalued.

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.