Trade Desk (NASDAQ:TTD) Shares Gap Down – Here’s What Happened

The Trade Desk, Inc. (NASDAQ:TTD)’s share price gapped down before the market opened on Friday . The stock had previously closed at $132.53, but opened at $116.11. Trade Desk shares last traded at $119.26, with a volume of 2,894,316 shares changing hands.

Analysts Set New Price Targets

Several research analysts have issued reports on TTD shares. Loop Capital raised their target price on Trade Desk from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Cantor Fitzgerald reissued a “neutral” rating and issued a $110.00 price objective on shares of Trade Desk in a report on Monday, October 7th. StockNews.com raised shares of Trade Desk from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of Trade Desk from $111.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Bank of America started coverage on Trade Desk in a research note on Wednesday, September 4th. They issued a “buy” rating and a $135.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus price target of $119.49.

Trade Desk Stock Down 7.6 %

The business’s fifty day moving average is $112.41 and its two-hundred day moving average is $100.68. The stock has a market capitalization of $60.23 billion, a PE ratio of 241.32, a price-to-earnings-growth ratio of 6.00 and a beta of 1.47.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 8th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Trade Desk had a net margin of 11.65% and a return on equity of 11.40%. The firm had revenue of $584.55 million for the quarter, compared to the consensus estimate of $578.03 million. During the same period in the previous year, the firm posted $0.07 EPS. The business’s quarterly revenue was up 25.9% on a year-over-year basis. Sell-side analysts expect that The Trade Desk, Inc. will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gokul Rajaram sold 1,355 shares of Trade Desk stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $109.00, for a total transaction of $147,695.00. Following the completion of the transaction, the director now directly owns 29,991 shares of the company’s stock, valued at approximately $3,269,019. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trade Desk news, CEO Jeffrey Terry Green sold 135,922 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $103.72, for a total value of $14,097,829.84. Following the completion of the sale, the chief executive officer now directly owns 664,261 shares of the company’s stock, valued at $68,897,150.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gokul Rajaram sold 1,355 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $109.00, for a total transaction of $147,695.00. Following the transaction, the director now directly owns 29,991 shares in the company, valued at approximately $3,269,019. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,557,897 shares of company stock valued at $170,121,565 over the last ninety days. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Trade Desk by 10.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,852,700 shares of the technology company’s stock valued at $278,623,000 after acquiring an additional 270,800 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in shares of Trade Desk by 4.3% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 2,419,355 shares of the technology company’s stock valued at $211,500,000 after acquiring an additional 100,000 shares during the period. Marshall Wace LLP raised its position in shares of Trade Desk by 100.2% in the 2nd quarter. Marshall Wace LLP now owns 1,743,369 shares of the technology company’s stock worth $170,275,000 after acquiring an additional 872,555 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Trade Desk by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,629,478 shares of the technology company’s stock worth $159,151,000 after purchasing an additional 177,832 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.