Trade Desk (NASDAQ:TTD) Sees Unusually-High Trading Volume – Still a Buy?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) saw unusually-high trading volume on Friday . Approximately 4,031,881 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 4,387,067 shares.The stock last traded at $54.19 and had previously closed at $53.88.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of research analyst reports. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Cantor Fitzgerald lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a research report on Thursday. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Trading Up 0.1 %

The stock has a market cap of $26.76 billion, a P/E ratio of 69.15, a PEG ratio of 3.11 and a beta of 1.63. The company has a 50 day simple moving average of $97.79 and a 200 day simple moving average of $111.51.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Focus Financial Network Inc. raised its stake in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after acquiring an additional 84 shares during the period. CAP Partners LLC raised its stake in Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the period. RMR Wealth Builders raised its stake in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC raised its stake in Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC raised its stake in Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after acquiring an additional 94 shares during the period. Institutional investors 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.