Trade Desk (NASDAQ:TTD) Reaches New 52-Week Low – Here’s Why

The Trade Desk, Inc. (NASDAQ:TTD) hit a new 52-week low on Monday . The stock traded as low as $42.96 and last traded at $43.30, with a volume of 1563315 shares traded. The stock had previously closed at $46.24.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TTD shares. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research note on Tuesday, March 25th. Jefferies Financial Group lowered their target price on shares of Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Truist Financial dropped their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Wedbush upped their price objective 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. Finally, JMP Securities cut their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research 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 given 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 a consensus price target of $114.38.

Trade Desk Stock Down 1.3 %

The firm has a fifty day moving average of $78.11 and a 200-day moving average of $106.54. The stock has a market capitalization of $22.65 billion, a price-to-earnings ratio of 58.98, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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, research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share 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 purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently made changes to their positions in the business. 111 Capital purchased a new position in Trade Desk during the fourth quarter worth about $562,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Trade Desk during the 4th quarter valued at about $17,176,000. Centaurus Financial Inc. boosted its position in shares of Trade Desk by 84.2% in the fourth quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock worth $762,000 after acquiring an additional 2,965 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in Trade Desk in the fourth quarter valued at approximately $591,000. Finally, Lighthouse Financial LLC acquired a new position in Trade Desk during the fourth quarter worth approximately $3,536,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.