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

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $57.86 and last traded at $60.20, with a volume of 12426696 shares changing hands. The stock had previously closed at $58.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TTD shares. Robert W. Baird cut their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. UBS Group boosted their target price on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Oppenheimer cut their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut 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 note on Thursday, February 13th. Finally, Scotiabank cut their target price on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Price Performance

The stock’s fifty day simple moving average is $99.14 and its 200-day simple moving average is $111.81. The company has a market capitalization of $26.76 billion, a P/E ratio of 69.15, a PEG ratio of 3.11 and a beta of 1.63.

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 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%. On average, 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 authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders 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 hedge funds and other institutional investors have recently modified their holdings of the stock. Focus Financial Network Inc. increased its holdings in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares in the last quarter. CAP Partners LLC boosted its position in shares of Trade Desk by 1.4% during the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. RMR Wealth Builders boosted its position in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Trade Desk by 4.2% during the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. Finally, TFB Advisors LLC boosted its position in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds 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.