Trade Desk (NASDAQ:TTD) Sees Strong Trading Volume – Should You Buy?

The Trade Desk, Inc. (NASDAQ:TTD) saw unusually-high trading volume on Friday . Approximately 4,031,881 shares traded hands during 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.

Analyst Upgrades and Downgrades

TTD has been the topic of several research analyst reports. Wolfe Research boosted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Royal Bank of Canada dropped their price target on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial reduced their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their price objective on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Trading Up 0.3 %

The firm has a market cap of $26.80 billion, a PE ratio of 69.23, a P/E/G ratio of 3.11 and a beta of 1.63. The business’s 50-day simple moving average is $99.14 and its 200 day simple moving average is $111.81.

Trade Desk (NASDAQ:TTD) last released its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. 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 share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction 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 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 three months. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently made changes to their positions in the company. Atria Investments Inc increased its holdings in Trade Desk by 3.3% in the 3rd quarter. Atria Investments Inc now owns 31,876 shares of the technology company’s stock worth $3,495,000 after acquiring an additional 1,033 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Trade Desk in the 3rd quarter worth $271,000. Prime Capital Investment Advisors LLC increased its holdings in Trade Desk by 7.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,367 shares of the technology company’s stock worth $1,137,000 after acquiring an additional 718 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Trade Desk by 3.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 4,116 shares of the technology company’s stock worth $451,000 after acquiring an additional 144 shares in the last quarter. Finally, Empower Advisory Group LLC increased its holdings in Trade Desk by 91.2% in the 3rd quarter. Empower Advisory Group LLC now owns 12,454 shares of the technology company’s stock worth $1,366,000 after acquiring an additional 5,942 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.