The Trade Desk (NASDAQ:TTD) Short Interest Update

Key Points

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The Trade Desk (NASDAQ:TTD - Get Free Report) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 31,310,000 shares, agrowthof44.2% from the July 15th total of 21,720,000 shares. Currently,7.1% of the company's stock are short sold. Based on an average daily volume of 13,070,000 shares, the short-interest ratio is presently 2.4 days. Based on an average daily volume of 13,070,000 shares, the short-interest ratio is presently 2.4 days. Currently,7.1% of the company's stock are short sold.

Trade Desk Stock Performance

NASDAQ:TTD opened at $54.95 on Tuesday. The stock has a market capitalization of $27.00 billion, a price-to-earnings ratio of 66.21, a PEG ratio of 2.67 and a beta of 1.37. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The stock has a fifty day moving average price of $73.89 and a two-hundred day moving average price of $69.89.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.24). The firm had revenue of $694.04 million during the quarter, compared to analyst estimates of $686.00 million. Trade Desk had a net margin of 15.57% and a return on equity of 15.19%. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. On average, analysts predict that Trade Desk will post 1.06 EPS for the current year.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 51,290 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $91.18, for a total value of $4,676,622.20. Following the sale, the insider owned 218,246 shares of the company's stock, valued at $19,899,670.28. This trade represents a 19.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Several large investors have recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the fourth quarter valued at $25,000. Banque Cantonale Vaudoise acquired a new stake in Trade Desk in the first quarter valued at $26,000. Sound Income Strategies LLC grew its holdings in Trade Desk by 317.6% in the second 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 last quarter. Cloud Capital Management LLC acquired a new stake in shares of Trade Desk during the first quarter valued at $27,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Trade Desk during the second quarter valued at $28,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on TTD. Morgan Stanley increased their price objective on shares of Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating on shares of Trade Desk in a research report on Friday, August 8th. Piper Sandler dropped their price objective on shares of Trade Desk from $65.00 to $64.00 and set a "neutral" rating on the stock in a research report on Friday, August 8th. HSBC reissued a "hold" rating and issued a $56.00 price objective on shares of Trade Desk in a research report on Monday, August 11th. Finally, Oppenheimer boosted their target price on Trade Desk from $80.00 to $110.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of "Hold" and an average price target of $88.58.

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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