Trade Desk (NASDAQ:TTD) Trading Down 7.6%

The Trade Desk, Inc. (NASDAQ:TTD) dropped 7.6% on Wednesday . The company traded as low as $92.49 and last traded at $93.20. Approximately 2,394,384 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 4,100,694 shares. The stock had previously closed at $100.90.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $108.00 price objective (up from $107.00) on shares of Trade Desk in a research note on Thursday, May 9th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target on shares of Trade Desk in a report on Thursday, May 16th. Citigroup increased their price objective on shares of Trade Desk from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus lifted their target price on Trade Desk from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Jefferies Financial Group upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $105.00 in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $100.38.

Trade Desk Price Performance

The firm has a market capitalization of $43.69 billion, a P/E ratio of 233.01, a PEG ratio of 5.14 and a beta of 1.48. The firm’s fifty day moving average price is $96.74 and its 200-day moving average price is $85.57.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Trade Desk had a return on equity of 9.41% and a net margin of 9.80%. The firm had revenue of $491.25 million during the quarter, compared to analyst estimates of $480.03 million. Analysts expect that The Trade Desk, Inc. will post 0.85 earnings per share for the current year.

Insider Activity at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 75,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $84.47, for a total value of $6,335,250.00. Following the sale, the chief executive officer now directly owns 824,022 shares in the company, valued at $69,605,138.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Laura Schenkein sold 43,705 shares of Trade Desk stock in a transaction on Friday, June 14th. The stock was sold at an average price of $95.38, for a total value of $4,168,582.90. Following the transaction, the chief financial officer now directly owns 703,038 shares in the company, valued at approximately $67,055,764.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 75,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $84.47, for a total value of $6,335,250.00. Following the sale, the chief executive officer now directly owns 824,022 shares of the company’s stock, valued at $69,605,138.34. The disclosure for this sale can be found here. Insiders sold 362,554 shares of company stock valued at $33,414,310 over the last 90 days. 10.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Apella Capital LLC boosted its holdings in shares of Trade Desk by 1.9% in the second quarter. Apella Capital LLC now owns 5,384 shares of the technology company’s stock worth $547,000 after buying an additional 100 shares during the period. Diversify Advisory Services LLC lifted its position in shares of Trade Desk by 4.5% in the 2nd quarter. Diversify Advisory Services LLC now owns 2,924 shares of the technology company’s stock valued at $297,000 after acquiring an additional 127 shares in the last quarter. Brookstone Capital Management boosted its stake in Trade Desk by 3.0% in the 2nd quarter. Brookstone Capital Management now owns 4,612 shares of the technology company’s stock worth $439,000 after purchasing an additional 135 shares during the period. Csenge Advisory Group grew its position in Trade Desk by 1.8% during the 1st quarter. Csenge Advisory Group now owns 7,869 shares of the technology company’s stock worth $688,000 after purchasing an additional 141 shares in the last quarter. Finally, Level Financial Advisors Inc. raised its stake in Trade Desk by 50.0% during the 4th quarter. Level Financial Advisors Inc. now owns 450 shares of the technology company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.