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

Shares of The Trade Desk (NASDAQ:TTD - Get Free Report) 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 traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada decreased their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. UBS Group decreased their price target on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. HSBC set a $75.00 price target on shares of Trade Desk and gave the company a "buy" rating in a report on Wednesday, April 23rd. Citigroup lifted their price target on shares of Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Truist Financial lifted their price target on shares of Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $97.03.

Trade Desk Trading Up 1.9%

The business's 50-day moving average is $67.56 and its two-hundred day moving average is $82.05. The firm has a market cap of $34.07 billion, a P/E ratio of 84.55, a P/E/G ratio of 3.18 and a beta of 1.41.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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. Trade Desk had a net margin of 16.04% and a return on equity of 15.41%. The business had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

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 sale, the director now directly owns 66,985 shares of the company's stock, valued at $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $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. 9.74% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Trade Desk by 3,876.8% during the first quarter. GAMMA Investing LLC now owns 91,984 shares of the technology company's stock valued at $5,033,000 after acquiring an additional 89,671 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of Trade Desk during the first quarter valued at approximately $995,000. Vanguard Group Inc. raised its holdings in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after acquiring an additional 253,137 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Trade Desk by 12.9% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 45,617 shares of the technology company's stock valued at $5,394,000 after acquiring an additional 5,203 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock valued at $319,089,000 after acquiring an additional 2,628,409 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Company Profile

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.