Trade Desk (NASDAQ:TTD) Reaches New 52-Week Low After Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD)’s share price hit a new 52-week low during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $101.00 to $72.00. Wells Fargo & Company currently has an overweight rating on the stock. Trade Desk traded as low as $52.90 and last traded at $54.33, with a volume of 1206068 shares. The stock had previously closed at $55.85.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lowered their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Scotiabank lowered their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada decreased their target price on Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Finally, Citigroup dropped their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $115.41.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several large investors have recently made changes to their positions in TTD. Townsquare Capital LLC raised its stake in Trade Desk by 82.9% during the third quarter. Townsquare Capital LLC now owns 7,887 shares of the technology company’s stock valued at $865,000 after purchasing an additional 3,574 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Trade Desk by 6.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,836 shares of the technology company’s stock worth $4,697,000 after buying an additional 2,516 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Trade Desk by 2.3% during the 3rd quarter. Captrust Financial Advisors now owns 14,404 shares of the technology company’s stock valued at $1,579,000 after buying an additional 322 shares in the last quarter. Flow Traders U.S. LLC bought a new position in shares of Trade Desk in the 3rd quarter valued at about $255,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Trade Desk by 71.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 93,442 shares of the technology company’s stock valued at $10,246,000 after acquiring an additional 38,997 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Price Performance

The company has a 50-day moving average of $82.27 and a 200 day moving average of $107.72. The company has a market cap of $28.33 billion, a PE ratio of 73.21, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management 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.