Trade Desk (NASDAQ:TTD) Trading Down 0.7% - Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) shares traded down 0.7% during mid-day trading on Tuesday . The stock traded as low as $78.60 and last traded at $78.85. 4,983,963 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 10,225,599 shares. The stock had previously closed at $79.40.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TTD shares. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and dropped their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. KeyCorp increased their target price on shares of Trade Desk from $67.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Benchmark raised shares of Trade Desk from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Scotiabank dropped their price objective on shares of Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research note on Thursday, February 13th. Finally, Susquehanna decreased their target price on shares of Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Trading Down 1.5%

The company has a market capitalization of $37.86 billion, a PE ratio of 97.83, a P/E/G ratio of 3.11 and a beta of 1.29. The stock's fifty day moving average is $56.12 and its two-hundred day moving average is $93.70.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.07. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm had revenue of $616.02 million for the quarter, compared to analysts' expectations of $575.62 million. During the same period in the previous year, the company earned $0.26 earnings per share. The company's quarterly revenue was up 25.4% on a year-over-year basis. As a group, 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 stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 26,684 shares of the firm's 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Wells sold 28,638 shares of the stock in a transaction dated 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 sale, the director now directly 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 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

Institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisors LLC bought a new stake in Trade Desk during the fourth quarter valued at approximately $214,000. Assenagon Asset Management S.A. grew its position in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after acquiring an additional 51,603 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Trade Desk by 13.5% in the fourth quarter. Kathmere Capital Management LLC now owns 2,324 shares of the technology company's stock valued at $273,000 after acquiring an additional 277 shares during the last quarter. Park Avenue Securities LLC raised its position in Trade Desk by 15.8% during the fourth quarter. Park Avenue Securities LLC now owns 39,519 shares of the technology company's stock valued at $4,645,000 after purchasing an additional 5,405 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Trade Desk by 32.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 2,898 shares of the technology company's stock worth $341,000 after purchasing an additional 706 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.