The Trade Desk, Inc. (NASDAQ:TTD) Short Interest Up 43.0% in March

The Trade Desk, Inc. (NASDAQ:TTD) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 23,460,000 shares, a growth of 43.0% from the February 28th total of 16,410,000 shares. Approximately 5.3% of the shares of the company are short sold. Based on an average daily volume of 8,430,000 shares, the short-interest ratio is presently 2.8 days.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Large investors have recently bought and sold shares of the business. Investment Management Corp VA ADV bought a new position in shares of Trade Desk during the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the 4th quarter worth approximately $34,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

TTD stock opened at $54.72 on Tuesday. The business has a fifty day moving average price of $83.62 and a 200 day moving average price of $108.07. The stock has a market capitalization of $27.15 billion, a price-to-earnings ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63. Trade Desk has a fifty-two week low of $52.90 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued 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%. On average, equities analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

TTD has been the subject of a number of research analyst reports. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. DA Davidson reduced their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald lowered their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $115.41.

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.