Trade Desk (NASDAQ:TTD) Trading Down 2.9% - Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) was down 2.9% during trading on Wednesday . The company traded as low as $65.60 and last traded at $65.64. Approximately 2,561,862 shares changed hands during trading, a decline of 67% from the average daily volume of 7,749,278 shares. The stock had previously closed at $67.60.

Analyst Ratings Changes

A number of research analysts have recently commented on TTD shares. Wells Fargo & Company lowered their target price on Trade Desk from $142.00 to $101.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. UBS Group increased their target price on Trade Desk from $116.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 14th. DA Davidson lowered their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating and set a $145.00 target price on shares of Trade Desk in a research report on Friday. Finally, Scotiabank lowered their target price on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.45.

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Trade Desk Stock Down 0.1 %

The stock has a market cap of $32.20 billion, a PE ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The firm has a 50 day moving average price of $105.07 and a 200 day moving average price of $113.33.

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

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

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company's stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 over the last quarter. 9.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in the business. Wood Tarver Financial Group LLC acquired a new stake in Trade Desk in the fourth quarter worth about $117,000. Park Square Financial Group LLC acquired a new stake in Trade Desk in the fourth quarter worth about $47,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Trade Desk in the fourth quarter worth about $24,963,000. Hall Capital Management Co. Inc. acquired a new stake in Trade Desk in the fourth quarter worth about $236,000. Finally, Putney Financial Group LLC acquired a new stake in Trade Desk in the fourth quarter worth about $2,447,000. Institutional investors and hedge funds 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.