Trade Desk (NASDAQ:TTD) Shares Down 1.3% – Time to Sell?

The Trade Desk (NASDAQ:TTD)’s stock price fell 1.3% on Monday . The stock traded as low as $35.65 and last traded at $36.19. 17,294,169 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 12,195,399 shares. The stock had previously closed at $36.65.

Wall Street Analyst Weigh In

TTD has been the subject of several research reports. Wells Fargo & Company cut their target price on shares of Trade Desk from $53.00 to $47.00 and set an “equal weight” rating for the company in a research report on Friday, November 7th. Citigroup reaffirmed an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Zacks Research upgraded Trade Desk from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Trade Desk in a report on Monday, December 8th. Finally, Royal Bank Of Canada set a $80.00 price objective on shares of Trade Desk and gave the company an “outperform” rating in a research report on Friday, November 7th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $76.56.

Trade Desk Price Performance

The firm’s 50-day moving average is $45.48 and its 200-day moving average is $58.10. The company has a market capitalization of $17.50 billion, a P/E ratio of 41.60, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The company had revenue of $739.43 million for the quarter, compared to the consensus estimate of $719.11 million. During the same quarter last year, the company earned $0.41 EPS. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, analysts forecast that The Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the stock. Family Legacy Financial Solutions LLC lifted its holdings in shares of Trade Desk by 163.2% during the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock worth $25,000 after purchasing an additional 310 shares during the period. Sound Income Strategies LLC lifted its stake in Trade Desk by 317.6% during the 2nd quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after acquiring an additional 270 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Trade Desk by 175.8% in the 3rd quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after acquiring an additional 334 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Trade Desk in the third quarter worth $26,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Trade Desk during the second quarter worth $28,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.