Trade Desk (NASDAQ:TTD) Sees Large Volume Increase – Here’s What Happened

The Trade Desk, Inc. (NASDAQ:TTD) saw an uptick in trading volume on Thursday . 8,657,986 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 5,244,138 shares.The stock last traded at $49.30 and had previously closed at $48.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Loop Capital decreased their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Truist Financial cut their price objective on Trade Desk from $130.00 to $95.00 and set a “buy” rating for the company in a report on Thursday. DA Davidson lowered their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.10.

Trade Desk Trading Up 3.8 %

The stock has a market capitalization of $24.95 billion, a PE ratio of 64.38, a PEG ratio of 3.11 and a beta of 1.56. The business’s 50 day moving average is $64.37 and its 200 day moving average is $102.42.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.72% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investment Management Corp VA ADV acquired a new position in Trade Desk during the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the 4th quarter worth about $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. boosted its position in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the last quarter. Hedge funds and other 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.