Trade Desk (NASDAQ:TTD) Sets New 52-Week Low – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD) shares reached a new 52-week low on Monday . The stock traded as low as $52.90 and last traded at $54.33, with a volume of 1206068 shares traded. The stock had previously closed at $55.85.

Analyst Ratings Changes

TTD has been the topic of a number of analyst reports. Robert W. Baird lowered their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Cantor Fitzgerald lowered their price target on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Wolfe Research increased their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. BMO Capital Markets lowered their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Price Performance

The stock’s fifty day simple moving average is $85.01 and its 200 day simple moving average is $108.42. The firm has a market capitalization of $26.73 billion, a P/E ratio of 69.22, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’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 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 trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of TTD. Norges Bank purchased a new stake in Trade Desk during the 4th quarter worth approximately $524,187,000. Brown Advisory Inc. grew its position in Trade Desk by 3,037.0% in the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after acquiring an additional 2,628,409 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Trade Desk during the 4th quarter worth approximately $231,570,000. Franklin Resources Inc. increased its position in shares of Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after acquiring an additional 1,354,891 shares during the period. Finally, FMR LLC raised its holdings in shares of Trade Desk by 44.8% in the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after purchasing an additional 1,172,082 shares in the last quarter. 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.