The Trade Desk, Inc. (NASDAQ:TTD) Short Interest Update

The Trade Desk, Inc. (NASDAQ:TTD) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 23,460,000 shares, a growth of 43.0% from the February 28th total of 16,410,000 shares. Based on an average daily trading volume, of 8,430,000 shares, the short-interest ratio is presently 2.8 days. Approximately 5.3% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wolfe Research increased their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Susquehanna cut their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective 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. Wedbush upped their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets dropped their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Stock Down 2.5 %

Shares of Trade Desk stock opened at $55.85 on Monday. The company has a market cap of $27.71 billion, a PE ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63. The business has a 50 day moving average of $85.01 and a 200 day moving average of $108.42. Trade Desk has a 52 week low of $53.39 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate 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, research analysts anticipate that Trade Desk will post 1.06 earnings per share 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 shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 111 Capital purchased a new position in Trade Desk during the fourth quarter valued at $562,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Trade Desk in the fourth quarter worth about $17,176,000. Centaurus Financial Inc. increased its stake in shares of Trade Desk by 84.2% during the fourth quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after purchasing an additional 2,965 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at approximately $591,000. Finally, Lighthouse Financial LLC purchased a new stake in shares of Trade Desk in the 4th quarter worth approximately $3,536,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.