Trade Desk (NASDAQ:TTD) Stock Price Up 3.8% – 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 trading, a decline of 56% from the average session volume of 4,781,920 shares. The stock had previously closed at $54.72.

Analyst Ratings Changes

Several brokerages have commented on TTD. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Susquehanna cut their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Morgan Stanley decreased their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. KeyCorp cut their price target on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Wolfe Research boosted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.41.

Trade Desk Trading Up 4.4 %

The business’s 50 day moving average price is $83.62 and its two-hundred day moving average price is $108.07. The stock has a market cap of $28.35 billion, a P/E ratio of 73.36, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted 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%. As a group, analysts expect 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 shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors have recently bought and sold shares of TTD. 111 Capital purchased a new position in Trade Desk in the fourth quarter worth about $562,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $17,176,000. Centaurus Financial Inc. raised its holdings in Trade Desk by 84.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock worth $762,000 after acquiring an additional 2,965 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new position in Trade Desk in the 4th quarter valued at approximately $591,000. Finally, Lighthouse Financial LLC bought a new stake in shares of Trade Desk in the 4th quarter worth $3,536,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.