Trade Desk (NASDAQ:TTD) Shares Gap Down Following Insider Selling

Shares of Trade Desk Inc (NASDAQ:TTD) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $261.32, but opened at $249.36. Trade Desk shares last traded at $242.20, with a volume of 2492675 shares.

Specifically, CFO Paul Ross sold 2,682 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $191.01, for a total transaction of $512,288.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David Randall Pickles sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $204.89, for a total value of $2,048,900.00. Following the transaction, the insider now directly owns 60,077 shares in the company, valued at approximately $12,309,176.53. The disclosure for this sale can be found here. Insiders sold a total of 154,572 shares of company stock worth $32,912,866 over the last three months. 17.44% of the stock is owned by company insiders.

TTD has been the topic of several research reports. Raymond James reaffirmed an “outperform” rating on shares of Trade Desk in a report on Thursday, May 9th. JMP Securities downgraded Trade Desk from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. BidaskClub cut shares of Trade Desk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. Nomura increased their price target on Trade Desk from $114.00 to $144.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group raised their price target on Trade Desk from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Trade Desk has a consensus rating of “Buy” and a consensus target price of $190.18.

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 126.15, a price-to-earnings-growth ratio of 6.71 and a beta of 2.86.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.42. Trade Desk had a net margin of 17.41% and a return on equity of 24.41%. The company had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $117.13 million. During the same period last year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. On average, equities research analysts expect that Trade Desk Inc will post 1.83 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of TTD. Vanguard Group Inc lifted its position in Trade Desk by 16.0% in the 3rd quarter. Vanguard Group Inc now owns 3,007,013 shares of the technology company’s stock valued at $453,788,000 after acquiring an additional 414,136 shares in the last quarter. BlackRock Inc. boosted its stake in Trade Desk by 1.7% in the 1st quarter. BlackRock Inc. now owns 2,466,365 shares of the technology company’s stock worth $488,215,000 after purchasing an additional 41,609 shares during the period. FMR LLC boosted its stake in Trade Desk by 29.4% in the 4th quarter. FMR LLC now owns 2,026,767 shares of the technology company’s stock worth $235,226,000 after purchasing an additional 460,727 shares during the period. JPMorgan Chase & Co. boosted its stake in Trade Desk by 6.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,290,372 shares of the technology company’s stock worth $255,429,000 after purchasing an additional 80,447 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Trade Desk by 3.8% in the 1st quarter. Baillie Gifford & Co. now owns 1,287,119 shares of the technology company’s stock worth $254,785,000 after purchasing an additional 47,333 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

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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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