The Trade Desk, Inc. (NASDAQ:TTD) Director Sells $2,287,603.44 in Stock

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the transaction, the director now directly owns 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Trade Desk Trading Down 2.1%

Shares of TTD traded down $1.64 during midday trading on Thursday, reaching $77.50. The stock had a trading volume of 9,355,699 shares, compared to its average volume of 10,342,440. The firm has a market cap of $38.45 billion, a PE ratio of 99.36, a P/E/G ratio of 3.11 and a beta of 1.29. The firm has a 50 day simple moving average of $55.42 and a 200-day simple moving average of $94.49. The Trade Desk, Inc. has a one year low of $42.96 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results 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 business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Trade Desk's revenue was up 25.4% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, research 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 authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Trade Desk

A number of hedge funds have recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the fourth quarter worth approximately $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Trade Desk in the first quarter valued at approximately $26,000. Cloud Capital Management LLC acquired a new stake in Trade Desk during the 1st quarter worth approximately $27,000. Finally, von Borstel & Associates Inc. acquired a new position in Trade Desk in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TTD. Guggenheim reduced their target price on Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Robert W. Baird cut their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Loop Capital decreased their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Piper Sandler raised their target price on shares of Trade Desk from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, KeyCorp upped their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.88.

About Trade Desk

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.

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