Trade Desk (NASDAQ:TTD) Trading Down 5.1% – Here’s Why

The Trade Desk (NASDAQ:TTD)’s share price was down 5.1% during trading on Tuesday . The stock traded as low as $17.62 and last traded at $17.6960. 5,178,287 shares traded hands during trading, a decline of 73% from the average daily volume of 19,097,631 shares. The stock had previously closed at $18.65.

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. Wedbush set a $21.00 price objective on shares of Trade Desk and gave the company a “neutral” rating in a research report on Friday, May 8th. Truist Financial set a $35.00 price target on shares of Trade Desk and gave the stock a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company set a $20.00 price target on shares of Trade Desk and gave the stock an “equal weight” rating in a report on Friday, May 8th. Rothschild & Co Redburn began coverage on Trade Desk in a report on Thursday, May 28th. They issued a “sell” rating and a $11.00 price objective on the stock. Finally, Arete Research set a $11.60 target price on Trade Desk and gave the stock a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.52.

Trade Desk Price Performance

The company has a market capitalization of $8.48 billion, a PE ratio of 20.39, a P/E/G ratio of 0.89 and a beta of 1.05. The stock has a 50-day simple moving average of $21.11 and a 200 day simple moving average of $26.58.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The company had revenue of $688.86 million for the quarter, compared to analyst estimates of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. As a group, research analysts predict that The Trade Desk will post 1.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trade Desk news, Director Samantha Jacobson sold 53,681 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $21.14, for a total value of $1,134,816.34. Following the sale, the director directly owned 13,099 shares of the company’s stock, valued at approximately $276,912.86. This trade represents a 80.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TTD. Elevation Wealth Partners LLC boosted its position in shares of Trade Desk by 2,382.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock worth $27,000 after acquiring an additional 691 shares during the last quarter. Albion Financial Group UT purchased a new position in Trade Desk during the fourth quarter worth approximately $30,000. Root Financial Partners LLC raised its stake in Trade Desk by 219.4% during the first quarter. Root Financial Partners LLC now owns 1,319 shares of the technology company’s stock worth $30,000 after purchasing an additional 906 shares during the period. CVA Family Office LLC boosted its holdings in shares of Trade Desk by 62.1% in the 4th quarter. CVA Family Office LLC now owns 898 shares of the technology company’s stock valued at $34,000 after purchasing an additional 344 shares during the last quarter. Finally, Bayforest Capital Ltd purchased a new stake in shares of Trade Desk during the 4th quarter valued at $35,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.