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

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cfra Research raised shares of Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. JMP Securities dropped their price target on shares of Trade Desk from $115.00 to $100.00 and set a "market outperform" rating on the stock in a research report on Friday, May 9th. Robert W. Baird dropped their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their price target on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Finally, UBS Group lowered their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and an average price target of $97.15.

Trade Desk Price Performance

The firm's 50 day moving average price is $61.50 and its two-hundred day moving average price is $88.85. The stock has a market cap of $35.12 billion, a PE ratio of 91.62, a P/E/G ratio of 3.11 and a beta of 1.29.

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, beating analysts' consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 EPS. Analysts anticipate 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 approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, Director David B. Wells sold 28,638 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the completion of the transaction, the director now directly owns 66,985 shares of the company's stock, valued at $5,350,761.80. This trade represents a 29.95% decrease in their position. The sale 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 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC lifted its position in Trade Desk by 3.8% during the fourth quarter. Brighton Jones LLC now owns 4,586 shares of the technology company's stock valued at $539,000 after purchasing an additional 169 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Trade Desk by 39.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 3,033 shares of the technology company's stock worth $356,000 after acquiring an additional 854 shares during the last quarter. Trust Point Inc. bought a new stake in shares of Trade Desk during the 4th quarter worth $406,000. Mather Group LLC. grew its position in Trade Desk by 64.9% in the fourth quarter. Mather Group LLC. now owns 493 shares of the technology company's stock worth $58,000 after acquiring an additional 194 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Trade Desk by 5.4% in the fourth quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock valued at $688,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors 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.