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

Posted by on Jun 1st, 2022

The Trade Desk, Inc. (NASDAQ:TTD – Get Rating) saw a significant growth in short interest in 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 trading volume of 6,500,000 shares, the days-to-cover ratio is currently 2.7 days.

Shares of NASDAQ TTD 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 PE ratio of 247.86, a PEG ratio of 7.54 and a beta of 2.15. The business has a 50-day moving average price of $59.59 and a two-hundred day moving average price of $74.17.

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

A number of equities research analysts have issued reports on TTD shares. Benchmark initiated coverage on Trade Desk in a research note on Tuesday, March 1st. They issued a “hold” rating on the stock. DA Davidson lowered their price target on Trade Desk from $105.00 to $65.00 in a report on Thursday, May 12th. Guggenheim initiated coverage on Trade Desk in a report on Wednesday, March 2nd. They set a “buy” rating and a $108.00 price target on the stock. StockNews.com initiated coverage on Trade Desk in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Trade Desk from $120.00 to $100.00 in a report on Wednesday, May 11th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $89.83.

In other news, CFO Blake Jeffrey Grayson sold 6,084 shares of the stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $72.50, for a total transaction of $441,090.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David B. Wells acquired 17,500 shares of Trade Desk stock in a transaction that occurred on Wednesday, May 25th. The shares were purchased at an average price of $45.81 per share, for a total transaction of $801,675.00. Following the completion of the purchase, the director now directly owns 106,570 shares of the company’s stock, valued at $4,881,971.70. The disclosure for this purchase can be found here. 10.79% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. MUFG Americas Holdings Corp acquired a new stake in shares of Trade Desk during the 4th quarter valued at about $26,000. Selective Wealth Management Inc. bought a new position in shares of Trade Desk in the 4th quarter valued at approximately $27,000. Curi Wealth Management LLC bought a new position in shares of Trade Desk in the 4th quarter valued at approximately $27,000. Itau Unibanco Holding S.A. bought a new position in shares of Trade Desk in the 4th quarter valued at approximately $27,000. Finally, Outfitter Financial LLC bought a new position in shares of Trade Desk in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 63.40% of the company’s stock.

About Trade Desk (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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