Trade Desk (NASDAQ:TTD) Hits New 52-Week Low – What’s Next?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week low on Friday . The stock traded as low as $70.41 and last traded at $71.99, with a volume of 488295 shares traded. The stock had previously closed at $71.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Macquarie boosted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Oppenheimer dropped their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup reduced their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Price Performance

The firm has a 50-day simple moving average of $110.70 and a 200 day simple moving average of $114.44. The stock has a market capitalization of $34.70 billion, a P/E ratio of 90.14, a P/E/G ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. Sell-side analysts anticipate 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 share 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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. The trade was a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the company. Ithaka Group LLC lifted its stake in shares of Trade Desk by 4.5% in the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after purchasing an additional 4,836 shares during the period. Lyell Wealth Management LP lifted its stake in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB lifted its stake in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after buying an additional 358,350 shares during the period. Assetmark Inc. boosted its holdings in shares of Trade Desk by 2,461.2% during the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.