Trade Desk (NASDAQ:TTD) Trading Down 0.5% - Here's Why

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

Analyst Upgrades and Downgrades

Several research analysts have commented on TTD shares. HSBC set a $75.00 price objective on Trade Desk and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Rosenblatt Securities started coverage on Trade Desk in a report on Tuesday, April 29th. They set a "buy" rating and a $77.00 price objective on the stock. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and reduced their price objective for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Loop Capital reduced their price objective on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Finally, Robert W. Baird reduced their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $97.12.

Trade Desk Trading Down 0.6%

The company has a market cap of $36.66 billion, a price-to-earnings ratio of 94.73, a PEG ratio of 3.11 and a beta of 1.29. The business has a fifty day moving average of $58.08 and a two-hundred day moving average of $92.13.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.07. The company 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 16.38% and a net margin of 16.08%. Trade Desk's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares 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, Director David B. Wells sold 28,638 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was 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 represents a 29.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated 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 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. Insiders own 9.74% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk during the fourth quarter worth about $25,000. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new position in shares of Trade Desk during the fourth quarter worth about $34,000. Zions Bancorporation N.A. increased its position in Trade Desk by 148.3% during the 4th 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. Finally, Exchange Traded Concepts LLC acquired a new position in Trade Desk during the 4th quarter worth approximately $35,000. 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.