Trade Desk (NASDAQ:TTD) Hits New 1-Year Low on Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD) shares hit a new 52-week low during mid-day trading on Thursday after Loop Capital lowered their price target on the stock from $145.00 to $101.00. Loop Capital currently has a buy rating on the stock. Trade Desk traded as low as $74.43 and last traded at $75.55, with a volume of 2910934 shares changing hands. The stock had previously closed at $76.75.

Other research analysts have also recently issued reports about the stock. Susquehanna decreased their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Citigroup lowered their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada cut their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. JMP Securities decreased their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Finally, Macquarie boosted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last quarter. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the business. Investment Management Corp VA ADV acquired a new position in Trade Desk during the fourth quarter worth $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC increased its holdings in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk in the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. boosted its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

The firm has a fifty day simple moving average of $115.27 and a 200 day simple moving average of $114.88. The company has a market cap of $35.57 billion, a price-to-earnings ratio of 92.38, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

About Trade Desk

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.