Trade Desk (NASDAQ:TTD) Shares Down 3.9% Following Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price dropped 3.9% on Monday after UBS Group lowered their price target on the stock from $116.00 to $80.00. UBS Group currently has a buy rating on the stock. Trade Desk traded as low as $47.71 and last traded at $47.86. Approximately 7,028,117 shares traded hands during trading, an increase of 36% from the average daily volume of 5,175,097 shares. The stock had previously closed at $49.78.

A number of other brokerages have also weighed in on TTD. Morgan Stanley cut their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. DA Davidson lowered their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Six 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.69.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the company’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 completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTD. Bangor Savings Bank acquired a new position in shares of Trade Desk during the 1st quarter worth $586,000. Park Avenue Securities LLC raised its stake in Trade Desk by 40.8% during the first quarter. Park Avenue Securities LLC now owns 55,641 shares of the technology company’s stock worth $3,045,000 after acquiring an additional 16,122 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of Trade Desk by 27.1% in the first quarter. OLD National Bancorp IN now owns 4,750 shares of the technology company’s stock worth $260,000 after acquiring an additional 1,012 shares during the last quarter. Washington Capital Management Inc. acquired a new stake in shares of Trade Desk in the 1st quarter valued at approximately $285,000. Finally, Wedmont Private Capital increased its position in Trade Desk by 17.6% during the 1st quarter. Wedmont Private Capital now owns 4,445 shares of the technology company’s stock worth $221,000 after purchasing an additional 664 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

The firm has a market cap of $23.82 billion, a P/E ratio of 61.56, a P/E/G ratio of 3.11 and a beta of 1.56. The company’s 50 day moving average is $68.37 and its 200 day moving average is $103.60.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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%. On average, equities research 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 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.

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.