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

Shares of The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) traded down 4.7% during trading on Thursday following insider selling activity. The stock traded as low as $75.02 and last traded at $75.38. 2,803,386 shares were traded during trading, a decline of 53% from the average session volume of 5,938,390 shares. The stock had previously closed at $79.14.

Specifically, 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 now directly owns 66,985 shares in the company, valued at $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business's 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 transaction, the chief executive officer now owns 17,018 shares of the company's stock, valued at $1,361,950.54. This represents a 61.06% decrease in their position. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of analysts have commented on the company. Macquarie upped their price target on Trade Desk from $90.00 to $92.00 and gave the stock an "outperform" rating in a research report on Monday. Truist Financial raised their price target on Trade Desk from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, May 9th. Benchmark raised Trade Desk from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. HSBC set a $75.00 price objective on Trade Desk and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, UBS Group decreased their price target on Trade Desk from $116.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Seven analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and an average target price of $97.12.

Trade Desk Stock Performance

The company has a 50-day moving average of $56.12 and a 200-day moving average of $93.51. The stock has a market capitalization of $37.86 billion, a price-to-earnings ratio of 97.85, a P/E/G ratio of 3.11 and a beta of 1.29.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly 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. 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 during the quarter, compared to analysts' expectations of $575.62 million. During the same period in the prior year, the company earned $0.26 EPS. The firm's revenue was up 25.4% on a year-over-year basis. As a group, 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 repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Trade Desk

Large investors have recently modified their holdings of the stock. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC boosted its stake in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after buying an additional 117 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk during the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. raised its holdings in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 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.