Trade Desk (NASDAQ:TTD) Trading Up 2.3% - Time to Buy?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) was up 2.3% during mid-day trading on Tuesday . The company traded as high as $75.98 and last traded at $75.61. Approximately 1,102,372 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 5,975,855 shares. The stock had previously closed at $73.89.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TTD shares. Citigroup boosted their price objective on Trade Desk from $63.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, May 9th. BMO Capital Markets cut their price objective on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. UBS Group lowered their target price 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. KeyCorp lifted their price target on shares of Trade Desk from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Evercore ISI lowered Trade Desk from an "outperform" rating to an "inline" rating and cut their price objective for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $97.12.

Trade Desk Price Performance

The stock's 50 day simple moving average is $59.81 and its two-hundred day simple moving average is $90.51. The company has a market capitalization of $36.69 billion, a P/E ratio of 94.82, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company had revenue of $616.02 million during the quarter, compared to analysts' expectations of $575.62 million. During the same period in the prior 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. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In other Trade Desk news, 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total value of $2,287,603.44. Following the sale, the director now owns 66,985 shares of the company's stock, valued at approximately $5,350,761.80. This trade represents a 29.95% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

Institutional Trading of Trade Desk

Several institutional investors have recently added to or reduced their stakes in the business. Lyell Wealth Management LP boosted its position in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $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 worth $688,000 after buying an additional 300 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Trade Desk by 46.3% in the 4th quarter. Allworth Financial LP now owns 5,470 shares of the technology company's stock worth $660,000 after purchasing an additional 1,732 shares during the period. Vontobel Holding Ltd. raised its holdings in Trade Desk by 17.9% in the 4th quarter. Vontobel Holding Ltd. now owns 13,020 shares of the technology company's stock worth $1,530,000 after purchasing an additional 1,974 shares during the period. Finally, Golden State Equity Partners raised its stake in shares of Trade Desk by 4,842.9% in the fourth quarter. Golden State Equity Partners now owns 8,057 shares of the technology company's stock worth $947,000 after buying an additional 7,894 shares during the period. 67.77% of the stock is currently owned by hedge funds and other 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.