The Trade Desk, Inc. (NASDAQ:TTD) Short Interest Update

The Trade Desk, Inc. (NASDAQ:TTD) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 16,410,000 shares, an increase of 20.3% from the February 13th total of 13,640,000 shares. Currently, 3.7% of the company’s shares are short sold. Based on an average trading volume of 6,900,000 shares, the days-to-cover ratio is currently 2.4 days.

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Investment Management Corp VA ADV bought a new position in shares of Trade Desk during the 4th quarter worth about $25,000. Rialto Wealth Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth about $26,000. Harbor Investment Advisory LLC increased its position 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 worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter worth about $34,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

Shares of Trade Desk stock opened at $53.59 on Wednesday. Trade Desk has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The firm has a fifty day moving average price of $95.03 and a two-hundred day moving average price of $110.89. The company has a market cap of $26.59 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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 return on equity of 16.38% and a net margin of 16.08%. Analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TTD has been the topic of several research reports. Truist Financial dropped their price objective on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup dropped their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. JMP Securities dropped their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 13th. Oppenheimer dropped their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $117.10.

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.