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

The Trade Desk, Inc. (NASDAQ:TTD)’s share price reached a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $100.00. Royal Bank of Canada currently has an outperform rating on the stock. Trade Desk traded as low as $53.39 and last traded at $53.59, with a volume of 11566794 shares. The stock had previously closed at $56.50.

Several other equities analysts have also issued reports on the company. UBS Group upped their price target on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. DA Davidson decreased their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Loop Capital decreased their price target on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk has a consensus 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 Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This 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 valued at $5,004,296 over the last 90 days. 9.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in Trade Desk in the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its position 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 worth $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. increased its position in shares of Trade Desk by 148.3% during the 4th 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 last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 70.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The company has a 50-day simple moving average of $93.70 and a two-hundred day simple moving average of $110.50.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results 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 return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign 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.