Short Interest in The Trade Desk Inc. (TTD) Rises By 34.4%
The Trade Desk Inc. (NASDAQ:TTD) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,806,385 shares, a growth of 34.4% from the August 15th total of 2,832,824 shares. Currently, 13.5% of the company’s stock are short sold. Based on an average daily trading volume, of 891,065 shares, the days-to-cover ratio is presently 4.3 days.
Shares of The Trade Desk (NASDAQ:TTD) opened at 59.88 on Friday. The company has a 50-day moving average of $60.39 and a 200-day moving average of $52.69. The Trade Desk has a 12 month low of $22.01 and a 12 month high of $62.86. The firm has a market cap of $2.44 billion and a P/E ratio of 55.29.
The Trade Desk (NASDAQ:TTD) last posted its earnings results on Thursday, August 10th. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.29. The firm had revenue of $72.80 million during the quarter, compared to analyst estimates of $68.02 million. The Trade Desk had a net margin of 13.92% and a return on equity of 26.34%. The firm’s revenue was up 54.2% compared to the same quarter last year. Equities analysts forecast that The Trade Desk will post $1.44 EPS for the current fiscal year.
In other The Trade Desk news, insider Brian John Stempeck sold 35,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $49.19, for a total transaction of $1,721,650.00. Following the transaction, the insider now owns 27,925 shares of the company’s stock, valued at $1,373,630.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Randall Pickles sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $55.60, for a total value of $4,170,000.00. Following the transaction, the insider now directly owns 240,517 shares in the company, valued at approximately $13,372,745.20. The disclosure for this sale can be found here. Insiders sold 349,215 shares of company stock worth $18,110,153 in the last three months. 26.87% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Lord Abbett & CO. LLC boosted its stake in The Trade Desk by 109.6% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,432,273 shares of the technology company’s stock valued at $71,771,000 after purchasing an additional 748,795 shares during the period. Ashford Capital Management Inc. boosted its stake in The Trade Desk by 111.1% during the 2nd quarter. Ashford Capital Management Inc. now owns 249,945 shares of the technology company’s stock valued at $12,525,000 after purchasing an additional 131,545 shares during the period. Cetera Investment Advisers acquired a new position in The Trade Desk during the 2nd quarter valued at about $800,000. California State Teachers Retirement System boosted its stake in The Trade Desk by 181.7% during the 2nd quarter. California State Teachers Retirement System now owns 30,700 shares of the technology company’s stock valued at $1,538,000 after purchasing an additional 19,800 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in The Trade Desk by 55.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 34,528 shares of the technology company’s stock valued at $1,730,000 after purchasing an additional 12,247 shares during the period. 62.80% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on TTD. BidaskClub raised The Trade Desk from a “hold” rating to a “buy” rating in a report on Tuesday. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $66.00 price objective on shares of The Trade Desk in a report on Thursday, September 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $62.00 price objective on shares of The Trade Desk in a report on Friday, September 1st. Zacks Investment Research raised The Trade Desk from a “hold” rating to a “strong-buy” rating and set a $59.00 price objective on the stock in a report on Thursday, August 17th. Finally, SunTrust Banks, Inc. began coverage on shares of The Trade Desk in a research note on Tuesday, August 15th. They set a “hold” rating and a $55.00 target price for the company. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $56.00.
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About The Trade Desk
The Trade Desk, Inc is a technology company. The Company provides a self-service platform that enables clients to purchase and manage digital advertising campaigns across various advertising formats, including display, video and social, and on a range of devices, including computers, mobile devices and connected television.
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