Trade Desk Inc (NASDAQ:TTD)’s share price fell 5.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $190.10 and last traded at $192.61, 2,465,985 shares changed hands during mid-day trading. An increase of 63% from the average session volume of 1,509,622 shares. The stock had previously closed at $202.92.
Specifically, insider Brian John Stempeck sold 20,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $262.56, for a total transaction of $5,251,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $233.50, for a total transaction of $2,335,000.00. Following the sale, the chief executive officer now directly owns 103,392 shares in the company, valued at $24,142,032. The disclosure for this sale can be found here. Over the last quarter, insiders sold 489,452 shares of company stock valued at $125,095,671. 17.44% of the stock is owned by company insiders.
Several brokerages recently commented on TTD. Zacks Investment Research downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Pivotal Research reissued a “buy” rating and set a $300.00 price objective on shares of Trade Desk in a research report on Thursday, August 8th. Jefferies Financial Group downgraded shares of Trade Desk from a “buy” rating to a “hold” rating and increased their price objective for the company from $225.00 to $250.00 in a research report on Thursday, July 18th. Nomura increased their price objective on shares of Trade Desk from $144.00 to $165.00 and gave the company a “reduce” rating in a research report on Friday, August 9th. Finally, Raymond James downgraded shares of Trade Desk from an “outperform” rating to a “market perform” rating and set a $210.00 price objective on the stock. in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. Trade Desk currently has an average rating of “Hold” and an average target price of $225.67.
Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.51. The firm had revenue of $159.90 million for the quarter, compared to the consensus estimate of $155.26 million. Trade Desk had a net margin of 17.44% and a return on equity of 23.63%. The business’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Analysts forecast that Trade Desk Inc will post 1.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC raised its stake in Trade Desk by 213.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 191 shares of the technology company’s stock worth $43,000 after acquiring an additional 130 shares during the period. Empowered Funds LLC bought a new stake in Trade Desk during the 1st quarter worth approximately $1,476,000. Cetera Advisors LLC raised its stake in Trade Desk by 198.3% during the 2nd quarter. Cetera Advisors LLC now owns 7,458 shares of the technology company’s stock worth $1,700,000 after acquiring an additional 4,958 shares during the period. Advisory Services Network LLC bought a new stake in Trade Desk during the 2nd quarter worth approximately $59,000. Finally, Baldwin Brothers Inc. MA bought a new stake in Trade Desk during the 2nd quarter worth approximately $91,000. 65.59% of the stock is currently owned by hedge funds and other institutional investors.
About Trade Desk (NASDAQ:TTD)
The Trade Desk, Inc, a technology company, provides a self-service omnichannel software platform that enables clients to purchase and manage data-driven digital advertising campaigns in the United States and internationally. The company's platform allows clients to manage integrated advertising campaigns in various advertising channels and formats, including display, video, audio, native and social, and on a multitude of devices, such as computers, mobile devices, and connected TV (CTV).
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