Trade Desk (NASDAQ:TTD) Shares Gap Down – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD) gapped down before the market opened on Friday . The stock had previously closed at $132.53, but opened at $116.11. Trade Desk shares last traded at $119.26, with a volume of 2,894,316 shares traded.

Wall Street Analyst Weigh In

TTD has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of Trade Desk from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Macquarie increased their price objective on Trade Desk from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Evercore ISI raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. BTIG Research increased their price target on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Trade Desk in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $115.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $119.49.

Trade Desk Price Performance

The stock has a market capitalization of $60.23 billion, a PE ratio of 241.32, a P/E/G ratio of 6.00 and a beta of 1.47. The stock’s fifty day moving average is $112.41 and its 200-day moving average is $100.68.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The business had revenue of $584.55 million for the quarter, compared to analyst estimates of $578.03 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, analysts forecast that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andrea Lee Cunningham sold 1,606 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the sale, the director now owns 3,516 shares of the company’s stock, valued at approximately $351,846.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gokul Rajaram sold 1,355 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $117.89, for a total transaction of $159,740.95. Following the completion of the sale, the director now directly owns 28,636 shares in the company, valued at approximately $3,375,898.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrea Lee Cunningham sold 1,606 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $100.07, for a total value of $160,712.42. Following the completion of the transaction, the director now owns 3,516 shares in the company, valued at $351,846.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. 9.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently modified their holdings of TTD. CAP Partners LLC boosted its stake in Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after buying an additional 86 shares during the last quarter. Allworth Financial LP boosted its position in shares of Trade Desk by 2.7% during the 3rd quarter. Allworth Financial LP now owns 3,738 shares of the technology company’s stock valued at $410,000 after acquiring an additional 97 shares during the last quarter. Apella Capital LLC grew 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 valued at $547,000 after purchasing an additional 100 shares during the period. HM Payson & Co. increased its position in Trade Desk by 1.0% during the third quarter. HM Payson & Co. now owns 9,875 shares of the technology company’s stock worth $1,083,000 after purchasing an additional 102 shares during the last quarter. Finally, Wealth Alliance raised its stake in Trade Desk by 0.6% during the second quarter. Wealth Alliance now owns 18,535 shares of the technology company’s stock worth $1,810,000 after purchasing an additional 106 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.