Trade Desk (NASDAQ:TTD) Sets New 1-Year Low Following Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD) shares 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 traded. The stock had previously closed at $56.50.

TTD has been the subject of several other research reports. JMP Securities dropped their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research report on Thursday, February 13th. Macquarie lifted their price target on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Truist Financial dropped their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, Susquehanna dropped their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Insider Buying and Selling at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred 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 owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the firm’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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by insiders.

Institutional Trading of Trade Desk

Institutional investors have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk in the fourth quarter worth $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth $26,000. Harbor Investment Advisory LLC lifted 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. Synergy Asset Management LLC purchased a new stake in Trade Desk in the fourth quarter valued at $34,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Trade Desk in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Up 1.0 %

The stock has a market capitalization of $27.71 billion, a PE ratio of 71.60, a PEG ratio of 3.11 and a beta of 1.63. The business’s 50-day moving average is $92.39 and its two-hundred day moving average is $110.12.

Trade Desk (NASDAQ:TTD) last announced its 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, analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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