The Trade Desk, Inc. (NASDAQ:TTD) Sees Significant Increase in Short Interest

The Trade Desk, Inc. (NASDAQ:TTDGet Rating) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 17,780,000 shares, a growth of 24.4% from the April 30th total of 14,290,000 shares. Based on an average daily volume of 6,500,000 shares, the days-to-cover ratio is currently 2.7 days.

In other news, Director David B. Wells acquired 17,500 shares of Trade Desk stock in a transaction dated Wednesday, May 25th. The stock was bought at an average cost of $45.81 per share, with a total value of $801,675.00. Following the completion of the transaction, the director now directly owns 106,570 shares of the company’s stock, valued at $4,881,971.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Blake Jeffrey Grayson sold 6,084 shares of the company’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $72.50, for a total value of $441,090.00. The disclosure for this sale can be found here. Corporate insiders own 10.79% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in TTD. MUFG Americas Holdings Corp purchased a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Selective Wealth Management Inc. purchased a new stake in shares of Trade Desk during the fourth quarter worth $27,000. Curi Wealth Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth $27,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Trade Desk during the fourth quarter worth $27,000. Finally, Outfitter Financial LLC purchased a new stake in shares of Trade Desk during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 63.40% of the company’s stock.

TTD has been the subject of a number of recent analyst reports. Zacks Investment Research raised Trade Desk from a “sell” rating to a “hold” rating in a research report on Saturday, May 14th. Susquehanna Bancshares lowered their target price on Trade Desk from $125.00 to $95.00 in a research note on Wednesday, May 11th. Stifel Nicolaus upgraded Trade Desk from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.00 to $80.00 in a research note on Monday, May 16th. KeyCorp lowered their price objective on Trade Desk from $102.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. Finally, DA Davidson lowered their price objective on Trade Desk from $105.00 to $65.00 in a research note on Thursday, May 12th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Buy” and an average price target of $89.83.

Shares of Trade Desk stock opened at $52.05 on Wednesday. Trade Desk has a one year low of $39.39 and a one year high of $114.09. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of 247.86, a PEG ratio of 7.54 and a beta of 2.15. The business has a 50-day simple moving average of $59.59 and a 200 day simple moving average of $74.17.

Trade Desk (NASDAQ:TTDGet Rating) last issued its earnings results on Tuesday, May 10th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.25. Trade Desk had a return on equity of 7.08% and a net margin of 7.78%. The business had revenue of $315.32 million during the quarter, compared to analyst estimates of $304.28 million. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue was up 43.5% compared to the same quarter last year. On average, sell-side analysts predict that Trade Desk will post 0.29 earnings per share for the current fiscal year.

Trade Desk Company Profile (Get Rating)

Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns across various ad formats and channels, including display, video, audio, native, and social on various devices, such as computers, mobile devices, and connected TV.

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