Trade Desk (NASDAQ:TTD) Shares Down 0.6% – Here’s Why

The Trade Desk, Inc. (NASDAQ:TTD) was down 0.6% during mid-day trading on Monday . The company traded as low as $69.64 and last traded at $69.87. Approximately 2,600,065 shares changed hands during trading, a decline of 65% from the average daily volume of 7,514,086 shares. The stock had previously closed at $70.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TTD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, February 13th. Susquehanna decreased their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. Oppenheimer cut their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Trading Down 4.5 %

The stock has a 50 day moving average price of $109.60 and a two-hundred day moving average price of $114.47. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 86.12, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Focus Financial Network Inc. lifted its position in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after acquiring an additional 84 shares in the last quarter. CAP Partners LLC raised its stake in shares of Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after purchasing an additional 86 shares during the period. RMR Wealth Builders lifted its holdings in shares of Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after buying an additional 94 shares during the period. Finally, TFB Advisors LLC grew its holdings in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds 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.