Trade Desk (NASDAQ:TTD) Trading Down 3.1%

The Trade Desk, Inc. (NASDAQ:TTD)’s share price traded down 3.1% during mid-day trading on Wednesday . The stock traded as low as $97.57 and last traded at $97.78. 881,500 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,109,377 shares. The stock had previously closed at $100.95.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. Wolfe Research assumed coverage on Trade Desk in a research report on Tuesday. They set an “outperform” rating and a $115.00 price target on the stock. Jefferies Financial Group upgraded shares of Trade Desk from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $105.00 in a research note on Thursday, May 2nd. Susquehanna reiterated a “positive” rating and set a $110.00 target price on shares of Trade Desk in a research note on Thursday, May 16th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Trade Desk in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada increased their price objective on Trade Desk from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.08.

Trade Desk Trading Down 5.6 %

The company has a market cap of $46.63 billion, a price-to-earnings ratio of 244.46, a P/E/G ratio of 5.13 and a beta of 1.48. The stock’s 50 day moving average price is $95.69 and its 200 day moving average price is $84.58.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $491.25 million during the quarter, compared to analysts’ expectations of $480.03 million. Trade Desk had a net margin of 9.80% and a return on equity of 9.41%. On average, equities analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 141,434 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jay R. Grant sold 141,434 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $97.42, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 2,415 shares of Trade Desk stock in a transaction on Friday, June 21st. The stock was sold at an average price of $97.92, for a total transaction of $236,476.80. Following the sale, the director now directly owns 34,056 shares in the company, valued at approximately $3,334,763.52. The disclosure for this sale can be found here. Insiders sold 362,554 shares of company stock valued at $33,414,310 over the last 90 days. Corporate insiders own 10.18% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Anchor Investment Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $42,000. Nordea Investment Management AB raised its position in shares of Trade Desk by 31.7% during the 4th quarter. Nordea Investment Management AB now owns 613,441 shares of the technology company’s stock valued at $44,226,000 after acquiring an additional 147,717 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Trade Desk by 10.8% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,484 shares of the technology company’s stock worth $574,000 after purchasing an additional 824 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in Trade Desk by 207.2% in the fourth quarter. Raymond James Trust N.A. now owns 14,481 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 9,767 shares during the period. Finally, Advisory Resource Group increased its stake in Trade Desk by 15.4% during the fourth quarter. Advisory Resource Group now owns 10,831 shares of the technology company’s stock valued at $779,000 after purchasing an additional 1,446 shares during 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.