Trade Desk (NASDAQ:TTD) Shares Down 4.7% Following Insider Selling

The Trade Desk, Inc. (NASDAQ:TTD) shares dropped 4.7% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $75.02 and last traded at $75.38. Approximately 2,803,386 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 5,938,390 shares. The stock had previously closed at $79.14.

Specifically, Director David B. Wells sold 28,638 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was a 29.95% 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, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the transaction, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

TTD has been the subject of a number of research analyst reports. UBS Group decreased their target price on Trade Desk from $116.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, April 11th. KeyCorp boosted their price target on Trade Desk from $67.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Rosenblatt Securities assumed coverage on Trade Desk in a report on Tuesday, April 29th. They issued a “buy” rating and a $77.00 price target on the stock. Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Piper Sandler boosted their price target on Trade Desk from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.88.

Trade Desk Stock Down 2.1%

The firm has a 50 day simple moving average of $55.77 and a 200-day simple moving average of $94.21. The stock has a market cap of $38.45 billion, a P/E ratio of 99.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. grew its position in shares of Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 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.