Trade Desk (NASDAQ:TTD) Shares Down 2.7% – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD) shares fell 2.7% during trading on Thursday . The stock traded as low as $76.10 and last traded at $73.98. 1,325,860 shares traded hands during trading, a decline of 78% from the average session volume of 6,047,414 shares. The stock had previously closed at $76.05.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of Trade Desk in a report on Friday. Rosenblatt Securities boosted their price target on Trade Desk from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Friday. HSBC set a $75.00 price target on Trade Desk and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Macquarie boosted their price target on Trade Desk from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Finally, Wells Fargo & Company dropped their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $97.15.

Trade Desk Price Performance

The business has a fifty day simple moving average of $61.50 and a 200 day simple moving average of $88.85. The firm has a market cap of $35.12 billion, a price-to-earnings ratio of 91.62, a PEG ratio of 3.11 and a beta of 1.41.

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

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

Insider Activity

In other news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in Trade Desk in the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter worth approximately $26,000. Banque Cantonale Vaudoise purchased a new position in Trade Desk in the first quarter worth approximately $26,000. Cloud Capital Management LLC purchased a new position in Trade Desk in the first quarter worth approximately $27,000. Finally, von Borstel & Associates Inc. purchased a new position in Trade Desk in the first quarter worth approximately $31,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.