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

Shares of The Trade Desk, Inc. (NASDAQ:TTD) 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.

A number of other equities research analysts have also recently commented on the company. DA Davidson decreased their price objective 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. Macquarie lifted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Robert W. Baird lowered their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Benchmark reissued a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research report on Friday, November 8th. Finally, Oppenheimer dropped their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the 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 transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC acquired a new position in shares of Trade Desk in the third quarter valued at about $218,000. International Assets Investment Management LLC grew its position in shares of Trade Desk by 10,856.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after purchasing an additional 1,558,465 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Trade Desk during the third quarter worth approximately $240,000. Dakota Wealth Management raised its holdings in Trade Desk by 5.5% in the 3rd quarter. Dakota Wealth Management now owns 17,366 shares of the technology company’s stock valued at $1,904,000 after acquiring an additional 904 shares in the last quarter. Finally, Canal Capital Management LLC acquired a new stake in Trade Desk during the third quarter worth about $219,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Price Performance

The firm’s 50-day simple moving average is $115.27 and its 200 day simple moving average is $114.88. The firm has a market capitalization 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 announced its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors 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.