Trade Desk (NASDAQ:TTD) Stock Price Down 0.1% - Here's Why

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s share price dropped 0.1% during mid-day trading on Thursday . The company traded as low as $73.84 and last traded at $74.36. Approximately 1,210,422 shares traded hands during trading, a decline of 80% from the average daily volume of 5,939,706 shares. The stock had previously closed at $74.47.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Rosenblatt Securities started coverage on shares of Trade Desk in a research note on Tuesday, April 29th. They issued a "buy" rating and a $77.00 price objective on the stock. BMO Capital Markets decreased their price target on Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Morgan Stanley upped their target price on shares of Trade Desk from $60.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada reduced their price target on Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Wedbush reiterated an "outperform" rating and issued a $86.00 price target (up previously from $80.00) on shares of Trade Desk in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $97.12.

Trade Desk Trading Up 0.3%

The company has a market cap of $37.05 billion, a P/E ratio of 95.77, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company's 50-day moving average price is $57.31 and its two-hundred day moving average price is $92.97.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The company had revenue of $616.02 million for the quarter, compared to the consensus estimate of $575.62 million. During the same period in the previous year, the business earned $0.26 EPS. The company's revenue was up 25.4% on a year-over-year basis. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, 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 sale, the chief executive officer now directly owns 17,018 shares in the company, valued at $1,361,950.54. This represents a 61.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David B. Wells sold 28,638 shares of Trade Desk 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 $5,350,761.80. This trade 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 Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Trade Desk by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock worth $2,420,689,000 after acquiring an additional 1,567,491 shares during the period. Brown Advisory Inc. boosted its stake in Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock worth $443,358,000 after acquiring an additional 5,387,339 shares during the last quarter. Invesco Ltd. grew its holdings in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock valued at $930,477,000 after purchasing an additional 198,822 shares during the period. Norges Bank acquired a new stake in Trade Desk in the fourth quarter worth $524,187,000. Finally, FMR LLC grew its holdings in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after buying an additional 1,172,082 shares during the period. 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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