Trade Desk (TTD) Trading Down 5.7% Following Insider Selling
Trade Desk Inc (NASDAQ:TTD) shares fell 5.7% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $44.96 and last traded at $45.25. 1,697,800 shares were traded during trading, an increase of 80% from the average session volume of 941,410 shares. The stock had previously closed at $48.00.
Specifically, COO Robert David Perdue sold 7,500 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $48.08, for a total value of $360,600.00. Following the transaction, the chief operating officer now directly owns 97,983 shares in the company, valued at $4,711,022.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Randall Pickles sold 70,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $60.89, for a total transaction of $4,262,300.00. Following the completion of the transaction, the insider now owns 56,499 shares in the company, valued at $3,440,224.11. The disclosure for this sale can be found here. Insiders sold 151,894 shares of company stock worth $9,180,577 over the last 90 days. 26.87% of the stock is currently owned by corporate insiders.
TTD has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating and set a $62.00 price objective on shares of Trade Desk in a research note on Thursday, September 21st. BidaskClub upgraded shares of Trade Desk from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price objective (up from $56.00) on shares of Trade Desk in a research note on Friday, August 11th. Citigroup reiterated a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Trade Desk in a research note on Friday, August 11th. Finally, Jefferies Group reiterated a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Trade Desk in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $67.07.
The firm has a market capitalization of $1,860.00 and a P/E ratio of 46.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56.
Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, November 9th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.15. The firm had revenue of $79.40 million during the quarter, compared to analysts’ expectations of $76.84 million. Trade Desk had a net margin of 15.93% and a return on equity of 24.34%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. equities research analysts forecast that Trade Desk Inc will post 1.29 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. AHL Partners LLP bought a new position in shares of Trade Desk in the second quarter worth about $373,000. Quantum Capital Management LLC NJ bought a new position in shares of Trade Desk in the second quarter worth about $3,787,000. American International Group Inc. bought a new position in shares of Trade Desk in the first quarter worth about $126,000. Deane Retirement Strategies Inc. bought a new position in shares of Trade Desk in the third quarter worth about $2,032,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Trade Desk in the second quarter worth about $1,252,000. 65.46% of the stock is owned by hedge funds and other institutional investors.
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About Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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