Trade Desk (NASDAQ:TTD) Trading 3.8% Higher - Time to Buy?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) rose 3.8% during mid-day trading on Tuesday . The company traded as high as $56.22 and last traded at $56.82. Approximately 2,101,697 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 4,781,920 shares. The stock had previously closed at $54.72.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Evercore ISI downgraded shares of Trade Desk from an "outperform" rating to an "inline" rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. DA Davidson cut their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. JMP Securities reduced their price target on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $110.00 price objective (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Finally, Wolfe Research upped their target price on Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $114.38.

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Trade Desk Stock Down 5.8 %

The business has a fifty day simple moving average of $78.11 and a two-hundred day simple moving average of $106.55. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, equities analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company's stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now directly 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. Insiders own 9.72% of the company's stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Trade Desk during the 4th quarter valued at about $524,187,000. Brown Advisory Inc. lifted its holdings in Trade Desk by 3,037.0% in the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company's stock valued at $319,089,000 after buying an additional 2,628,409 shares during the period. Raymond James Financial Inc. bought a new position in Trade Desk in the fourth quarter valued at approximately $231,570,000. Franklin Resources Inc. boosted its stake in Trade Desk by 265.9% in the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company's stock valued at $219,121,000 after acquiring an additional 1,354,891 shares during the last quarter. Finally, FMR LLC grew its holdings in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company's stock worth $445,237,000 after acquiring an additional 1,172,082 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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.