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

The Trade Desk (NASDAQ:TTD - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $69.80, but opened at $67.50. Trade Desk shares last traded at $66.82, with a volume of 1,432,179 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TTD shares. DA Davidson decreased their price objective on Trade Desk from $103.00 to $92.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Morgan Stanley increased their price target on Trade Desk from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a research report on Tuesday, March 25th. Stifel Nicolaus cut their price objective on shares of Trade Desk from $122.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Citizens Jmp reduced their target price on shares of Trade Desk from $115.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Eight analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.03.

Trade Desk Stock Down 2.7%

The stock has a 50-day moving average price of $66.83 and a 200 day moving average price of $83.30. The firm has a market capitalization of $33.38 billion, a price-to-earnings ratio of 82.83, a P/E/G ratio of 3.30 and a beta of 1.41.

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 (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. The business's quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. As a group, equities analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Wells sold 28,638 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.74% of the company's stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the business. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the 4th quarter worth about $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk during the fourth quarter worth approximately $26,000. Zions Bancorporation N.A. raised its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after purchasing an additional 175 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $47,000. Finally, BNP Paribas acquired a new position in shares of Trade Desk in the 4th quarter valued at $50,000. 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.

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