Trade Desk (NASDAQ:TTD) Shares Up 2.5% - Time to Buy?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) shares were up 2.5% during mid-day trading on Wednesday . The company traded as high as $76.13 and last traded at $76.23. Approximately 971,407 shares changed hands during trading, a decline of 84% from the average daily volume of 6,030,487 shares. The stock had previously closed at $74.40.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TTD shares. Royal Bank of Canada dropped their price target on shares of Trade Desk from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird cut their price target on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Cfra Research raised Trade Desk to a "moderate buy" rating in a report on Tuesday, March 25th. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Rosenblatt Securities assumed coverage on Trade Desk in a research report on Tuesday, April 29th. They issued a "buy" rating and a $77.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $97.12.

Trade Desk Stock Down 6.5%

The stock has a market capitalization of $34.95 billion, a P/E ratio of 91.17, a PEG ratio of 3.11 and a beta of 1.29. The firm's 50-day simple moving average is $60.88 and its 200 day simple moving average is $89.50.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. The firm had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. As a group, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, Director David B. Wells sold 28,638 shares of Trade Desk stock in a transaction 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 transaction, the director now owns 66,985 shares in the company, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total transaction of $2,135,520.52. Following the completion of the sale, the chief executive officer now directly owns 17,018 shares of the company's stock, valued at $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Trade Desk by 3.7% during the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock valued at $2,420,689,000 after acquiring an additional 1,567,491 shares in the last quarter. Brown Advisory Inc. raised its holdings in Trade Desk by 198.4% during the first quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after buying an additional 5,387,339 shares in the last quarter. Invesco Ltd. raised 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 buying an additional 198,822 shares in the last quarter. Norges Bank bought a new position in Trade Desk during the fourth quarter valued at about $524,187,000. Finally, FMR LLC raised its holdings in Trade Desk by 44.8% during the fourth 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 in the last quarter. Institutional investors 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.