Trade Desk Target of Unusually Large Options Trading (NASDAQ:TTD)

The Trade Desk, Inc. (NASDAQ:TTD) saw some unusual options trading on Monday. Investors bought 58,411 call options on the company. This is an increase of 52% compared to the typical volume of 38,545 call options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna cut their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. UBS Group boosted their price objective on shares of 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 shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $110.00 price target (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Trading Down 7.1 %

Shares of NASDAQ TTD opened at $60.31 on Tuesday. The stock has a market capitalization of $29.92 billion, a PE ratio of 77.32, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. Trade Desk has a 12-month low of $60.20 and a 12-month high of $141.53. The stock’s fifty day simple moving average is $103.94 and its two-hundred day simple moving average is $113.21.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share buyback 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 leadership believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction 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 completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s 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 completion of the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $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. Insiders sold 41,029 shares of company stock worth $5,004,296 in 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 bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter worth $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.