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

The Trade Desk, Inc. (NASDAQ:TTD) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 89,834 call options on the company. This represents an increase of 97% compared to the average volume of 45,523 call options.

Trade Desk Trading Up 4.5 %

Trade Desk stock opened at $62.00 on Wednesday. Trade Desk has a 1-year low of $53.39 and a 1-year high of $141.53. The firm’s fifty day moving average price is $88.88 and its two-hundred day moving average price is $109.33. The firm has a market capitalization of $30.76 billion, a price-to-earnings ratio of 79.49, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, research analysts forecast that Trade Desk will post 1.06 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTD. Cantor Fitzgerald dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a research note on Thursday, March 13th. DA Davidson decreased their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Six research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.41.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after acquiring an additional 198,822 shares in the last quarter. Norges Bank bought a new position in Trade Desk during the fourth quarter valued at $524,187,000. FMR LLC grew its position in Trade Desk by 44.8% in the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after acquiring an additional 1,172,082 shares in 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 purchasing an additional 418,911 shares during the period. Institutional investors own 67.77% of the company’s stock.

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.