Trade Desk (NASDAQ:TTD) Shares Gap Down – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $132.53, but opened at $116.11. Trade Desk shares last traded at $119.26, with a volume of 2,894,316 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TTD. Moffett Nathanson assumed coverage on shares of Trade Desk in a research note on Monday, September 23rd. They set a “neutral” rating and a $100.00 price objective on the stock. Wolfe Research initiated coverage on Trade Desk in a research report on Tuesday, July 16th. They set an “outperform” rating and a $115.00 target price on the stock. Loop Capital boosted their price target on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Evercore ISI raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, August 6th. Finally, BTIG Research boosted their target price on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.69.

Trade Desk Stock Down 5.6 %

The business’s 50-day moving average is $112.83 and its 200-day moving average is $101.14. The company has a market capitalization of $61.51 billion, a price-to-earnings ratio of 205.13, a P/E/G ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, August 8th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. Trade Desk had a return on equity of 11.40% and a net margin of 11.65%. The company’s revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. As a group, analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 283,429 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $104.20, for a total transaction of $29,533,301.80. Following the sale, the chief executive officer now directly owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey Terry Green sold 283,429 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $104.20, for a total value of $29,533,301.80. Following the completion of the transaction, the chief executive officer now owns 380,832 shares of the company’s stock, valued at approximately $39,682,694.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Laura Schenkein sold 3,130 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $99.33, for a total value of $310,902.90. Following the completion of the sale, the chief financial officer now directly owns 693,953 shares in the company, valued at approximately $68,930,351.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,557,897 shares of company stock worth $170,121,565. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently bought and sold shares of TTD. 1832 Asset Management L.P. acquired a new stake in shares of Trade Desk in the first quarter worth approximately $225,710,000. Jennison Associates LLC lifted its holdings in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Trade Desk by 10,856.6% during the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Trade Desk by 100.2% in the second quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock valued at $170,275,000 after buying an additional 872,555 shares during the last quarter. 67.77% of the stock is currently 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.