Trade Desk (NASDAQ:TTD) Shares Down 1.1% - What's Next?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s stock price traded down 1.1% during trading on Monday . The company traded as low as $73.29 and last traded at $74.41. 1,075,758 shares changed hands during trading, a decline of 82% from the average session volume of 6,030,336 shares. The stock had previously closed at $75.22.

Analysts Set New Price Targets

Several equities analysts have recently commented on TTD shares. Guggenheim lowered their target price on shares of Trade Desk from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Oppenheimer boosted their target price on Trade Desk from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Scotiabank decreased their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Truist Financial raised their price objective on Trade Desk from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.12.

Trade Desk Trading Up 2.2%

The company has a fifty day moving average price of $60.88 and a two-hundred day moving average price of $89.50. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 97.50, a PEG ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 17,018 shares in the company, 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. 9.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk during the fourth quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the 4th quarter worth approximately $34,000. Zions Bancorporation N.A. boosted its position in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after buying an additional 175 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Trade Desk in the fourth quarter worth $39,000. Institutional investors and hedge funds own 67.77% of the company's stock.

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.