Investors Buy High Volume of Call Options on Trade Desk (NASDAQ:TTD)

The Trade Desk, Inc. (NASDAQ:TTD) was the recipient of some unusual options trading on Friday. Traders bought 119,347 call options on the stock. This represents an increase of 100% compared to the typical daily volume of 59,790 call options.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the 4th quarter worth $25,000. Rialto Wealth Management LLC bought a new stake in Trade Desk in the fourth quarter worth $26,000. Banque Cantonale Vaudoise acquired a new position in Trade Desk during the first quarter worth $26,000. Cloud Capital Management LLC bought a new position in Trade Desk during the first quarter valued at about $27,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Trade Desk in the first quarter worth about $31,000. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TTD. Cantor Fitzgerald decreased their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. HSBC set a $75.00 price objective on shares of Trade Desk and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their target price on Trade Desk from $60.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $98.88.

Trade Desk Stock Performance

Trade Desk stock opened at $71.04 on Friday. Trade Desk has a twelve month low of $42.96 and a twelve month high of $141.53. The firm has a market cap of $35.24 billion, a PE ratio of 91.08, a P/E/G ratio of 3.11 and a beta of 1.29. The firm’s 50 day moving average price is $54.62 and its two-hundred day moving average price is $95.31.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The business had revenue of $616.02 million during the quarter, compared to analyst estimates of $575.62 million. During the same period last year, the company earned $0.26 earnings per share. Trade Desk’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Trade Desk will post 1.06 EPS for the current fiscal year.

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

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.