The Trade Desk (NASDAQ:TTD) Short Interest Update

Key Points

• The Trade Desk experienced a significant increase in short interest, rising 636.3% in July to a total of 21,720,000 shares.
• Corporate insiders, including the CEO and Director, sold large amounts of stock in May, decreasing their ownership stakes by 61.06% and 29.95%, respectively.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Trade Desk, with an average target price of $100.09, reflecting positive sentiment despite varying ratings among different analysts.

The Trade Desk (NASDAQ:TTD - Get Free Report) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 21,720,000 shares, agrowthof636.3% from the June 30th total of 2,950,000 shares. Based on an average daily volume of 10,880,000 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 10,880,000 shares, the short-interest ratio is currently 2.0 days.

Insider Transactions at Trade Desk

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the company'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 transaction, the director directly owned 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction dated Monday, May 12th. The stock was 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 owned 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.00% of the company's stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Banque Cantonale Vaudoise purchased a new position in shares of Trade Desk in the 1st quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its stake in shares of Trade Desk by 317.6% in the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock valued at $26,000 after purchasing an additional 270 shares during the period. Cloud Capital Management LLC purchased a new position in shares of Trade Desk in the 1st quarter valued at approximately $27,000. Finally, von Borstel & Associates Inc. purchased a new position in shares of Trade Desk in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Performance

NASDAQ TTD opened at $86.08 on Friday. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock has a 50 day simple moving average of $75.63 and a two-hundred day simple moving average of $74.76. The stock has a market cap of $42.30 billion, a P/E ratio of 104.98, a price-to-earnings-growth ratio of 3.95 and a beta of 1.36.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same quarter last year, the business posted $0.26 EPS. The business's revenue was up 25.4% on a year-over-year basis. Sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. KeyCorp upped their target price on Trade Desk from $80.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley upped their target price on Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. DA Davidson decreased their target price on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company lowered Trade Desk from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $74.00 to $68.00 in a research note on Thursday, June 26th. Finally, Truist Financial upped their target price on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and an average target price of $100.09.

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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