Trade Desk (NASDAQ:TTD) Trading Down 4.7% After Insider Selling

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s stock price traded down 4.7% on Thursday after an insider sold shares in the company. The stock traded as low as $75.02 and last traded at $75.38. 2,803,386 shares were traded during mid-day trading, a decline of 53% from the average session volume of 5,938,390 shares. The stock had previously closed at $79.14.

Specifically, CEO Jeffrey Terry Green sold 26,684 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 17,018 shares in the company, valued at approximately $1,361,950.54. This represents a 61.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, March 31st. Wedbush restated an "outperform" rating and set a $86.00 target price (up from $80.00) on shares of Trade Desk in a research note on Friday, May 9th. Benchmark upgraded Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Evercore ISI downgraded Trade Desk from an "outperform" rating to an "inline" rating and lowered their target price for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on Trade Desk from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Seven investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, Trade Desk has a consensus rating of "Moderate Buy" and an average price target of $98.88.

Trade Desk Price Performance

The stock has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $94.49. The company has a market cap of $37.52 billion, a P/E ratio of 96.68, a PEG ratio of 3.11 and a beta of 1.29.

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, topping analysts' consensus estimates of $0.26 by $0.07. The firm had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The firm's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 earnings per share. As a group, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Trade Desk by 3.7% in the first quarter. Vanguard Group Inc. now owns 44,237,745 shares of the technology company's stock worth $2,420,689,000 after purchasing an additional 1,567,491 shares during the period. Brown Advisory Inc. lifted its position in shares of Trade Desk by 198.4% during the 1st quarter. Brown Advisory Inc. now owns 8,102,294 shares of the technology company's stock valued at $443,358,000 after acquiring an additional 5,387,339 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of 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 purchasing an additional 198,822 shares during the last quarter. Norges Bank acquired a new position in shares of Trade Desk in the 4th quarter valued at $524,187,000. Finally, FMR LLC boosted its position in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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