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

The Trade Desk, Inc. (NASDAQ:TTD) shares saw an uptick in trading volume on Thursday . 8,657,986 shares traded hands during trading, an increase of 65% from the previous session’s volume of 5,244,138 shares.The stock last traded at $49.30 and had previously closed at $48.45.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Stifel Nicolaus lowered their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wolfe Research boosted their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company reduced their price target on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, Wedbush lifted their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $104.10.

Trade Desk Price Performance

The company has a fifty day moving average of $64.37 and a 200 day moving average of $102.42. The firm has a market capitalization of $24.95 billion, a P/E ratio of 64.38, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase program 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 programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new stake in Trade Desk during the fourth quarter valued at about $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC raised its holdings in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Trade Desk in the fourth quarter worth $34,000. 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.