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

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $56.22 and last traded at $56.82. 2,101,697 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 4,781,920 shares. The stock had previously closed at $54.72.

Analyst Upgrades and Downgrades

TTD has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a research note on Thursday, March 13th. Wedbush upped their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Citigroup decreased their target price on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Scotiabank dropped their target price on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Six 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.38.

Trade Desk Trading Down 1.4 %

The stock has a market capitalization of $27.93 billion, a P/E ratio of 72.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The company has a 50-day moving average price of $80.98 and a two-hundred day moving average price of $107.36.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Research analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication 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 stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC lifted its stake in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. Midwest Capital Advisors LLC purchased a new position in Trade Desk during the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. grew its stake in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares in the last quarter. 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.