Trade Desk (NASDAQ:TTD) Stock Price Down 0.5% - Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) dropped 0.5% during trading on Wednesday . The stock traded as low as $75.52 and last traded at $76.68. Approximately 1,066,192 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 5,924,934 shares. The stock had previously closed at $77.06.

Wall Street Analysts Forecast Growth

TTD has been the subject of several recent research reports. 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 note on Friday, April 11th. HSBC set a $75.00 target price on Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Macquarie upped their target price on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday. Evercore ISI cut Trade Desk from an "outperform" rating to an "inline" rating and decreased their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Susquehanna decreased their target price on Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat, Trade Desk presently has an average rating of "Moderate Buy" and an average price target of $97.12.

Trade Desk Stock Performance

The company has a market capitalization of $37.15 billion, a price-to-earnings ratio of 95.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.29. The company's fifty day simple moving average is $56.90 and its two-hundred day simple moving average is $93.10.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results 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 company had revenue of $616.02 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Insider Activity at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of the firm's 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $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. Corporate insiders own 9.74% of the company's stock.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lyell Wealth Management LP raised its stake in Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock worth $11,558,000 after acquiring an additional 19,204 shares in the last quarter. Yousif Capital Management LLC raised its position in Trade Desk by 5.4% in the 4th quarter. Yousif Capital Management LLC now owns 5,856 shares of the technology company's stock valued at $688,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP increased its position in shares of Trade Desk by 46.3% during the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock valued at $660,000 after purchasing an additional 1,732 shares during the last quarter. Cherry Creek Investment Advisors Inc. increased its holdings in Trade Desk by 10.3% in the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 52,144 shares of the technology company's stock worth $6,128,000 after acquiring an additional 4,878 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Trade Desk by 86.6% in the 4th quarter. Fifth Third Bancorp now owns 31,534 shares of the technology company's stock worth $3,706,000 after acquiring an additional 14,635 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

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.

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