The Trade Desk, Inc. (NASDAQ:TTD) Sees Large Growth in Short Interest

The Trade Desk, Inc. (NASDAQ:TTD) was the recipient of a significant growth in short interest in 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 days-to-cover ratio is currently 2.8 days. Currently, 5.3% of the company’s shares are short sold.

Insider Buying and Selling at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The stock was 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 of the company’s stock, valued at $10,754,459.04. This represents 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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after buying an additional 253,137 shares during the period. Invesco Ltd. raised its holdings in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Norges Bank bought a new stake in Trade Desk during the fourth quarter worth $524,187,000. FMR LLC increased its position in shares of Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Trade Desk by 13.2% in the 4th quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock worth $422,150,000 after buying an additional 418,911 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Down 2.5 %

TTD stock opened at $55.85 on Monday. The company’s 50-day moving average price is $85.01 and its two-hundred day moving average price is $108.42. Trade Desk has a 12 month low of $53.39 and a 12 month high of $141.53. The firm has a market cap of $27.71 billion, a P/E ratio of 71.60, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. Equities analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TTD. Stifel Nicolaus cut their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Truist Financial cut their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets lowered their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.41.

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.