Trade Desk (NASDAQ:TTD) Stock Price Down 3.9% After Analyst Downgrade

Shares of The Trade Desk, Inc. (NASDAQ:TTD) fell 3.9% on Monday after UBS Group lowered their price target on the stock from $116.00 to $80.00. UBS Group currently has a buy rating on the stock. Trade Desk traded as low as $47.71 and last traded at $47.86. 7,028,117 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 5,175,097 shares. The stock had previously closed at $49.78.

Several other equities analysts also recently commented on the company. Cantor Fitzgerald lowered their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wedbush raised their target price on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Stifel Nicolaus cut their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, DA Davidson decreased their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.69.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred 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 owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Advisory Resource Group increased its position in shares of Trade Desk by 1.0% in the third quarter. Advisory Resource Group now owns 10,502 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 101 shares during the last quarter. Anchor Investment Management LLC grew its stake in Trade Desk by 357.9% in the third quarter. Anchor Investment Management LLC now owns 870 shares of the technology company’s stock valued at $95,000 after purchasing an additional 680 shares in the last quarter. World Investment Advisors LLC increased its position in shares of Trade Desk by 10.0% during the 3rd quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company’s stock worth $970,000 after purchasing an additional 803 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Trade Desk during the 3rd quarter worth approximately $1,194,000. Finally, Synovus Financial Corp bought a new stake in shares of Trade Desk during the 3rd quarter worth approximately $245,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

The firm has a fifty day moving average price of $65.74 and a 200 day moving average price of $102.80. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 63.13, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are 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.