Trade Desk (NASDAQ:TTD) Stock Price Down 3.5% - Here's What Happened

Key Points

• Trade Desk's stock decreased by 3.5% during mid-day trading, falling to a price of $85.34, with a significant decline in trading volume compared to its average.
• Multiple analysts maintain a positive outlook on Trade Desk, with the consensus target price set at $99.64 and a majority rating it as a "buy."
• Recent insider trading activity includes major sales by the CEO and a director, suggesting possible changes in confidence among company insiders.

The Trade Desk (NASDAQ:TTD - Get Free Report) shares were down 3.5% during trading on Tuesday . The company traded as low as $85.19 and last traded at $85.34. Approximately 2,846,820 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 10,111,178 shares. The stock had previously closed at $88.46.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TTD shares. Needham & Company LLC reiterated a "buy" rating and set a $84.00 price target on shares of Trade Desk in a research report on Friday, June 6th. JMP Securities reaffirmed a "market outperform" rating and issued a $100.00 price target on shares of Trade Desk in a report on Tuesday, June 24th. HSBC set a $75.00 price objective on Trade Desk and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Oppenheimer raised their price target on Trade Desk from $80.00 to $110.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Guggenheim lowered their price target on Trade Desk from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, Trade Desk has a consensus rating of "Moderate Buy" and a consensus price target of $99.64.

Trade Desk Stock Up 1.6%

The stock has a market cap of $42.20 billion, a price-to-earnings ratio of 104.58, a PEG ratio of 4.02 and a beta of 1.36. The business's 50 day simple moving average is $74.74 and its 200 day simple moving average is $75.04.

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. 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 for the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the firm earned $0.26 earnings per share. Trade Desk's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts forecast that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk 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 directly owned 17,018 shares in the company, valued at $1,361,950.54. This trade represents a 61.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the sale, the director owned 66,985 shares in the company, valued at approximately $5,350,761.80. This represents a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTD. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk in the 4th quarter worth approximately $25,000. Banque Cantonale Vaudoise acquired a new position in shares of Trade Desk during the 1st quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in Trade Desk by 317.6% during the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company's stock worth $26,000 after acquiring an additional 270 shares in the last quarter. Cloud Capital Management LLC bought a new position in Trade Desk during the first quarter worth $27,000. Finally, von Borstel & Associates Inc. bought a new position in Trade Desk during the first quarter worth $31,000. Institutional investors and hedge funds own 67.77% of the company's stock.

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.