Trade Desk (NASDAQ:TTD) Reaches New 52-Week Low – Here’s Why

The Trade Desk, Inc. (NASDAQ:TTD) shares hit a new 52-week low during trading on Thursday . The company traded as low as $74.43 and last traded at $75.55, with a volume of 2910934 shares trading hands. The stock had previously closed at $76.75.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Loop Capital raised their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Benchmark reiterated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research report on Friday, November 8th. Oppenheimer cut their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.97.

Trade Desk Stock Performance

The company has a market capitalization of $36.99 billion, a PE ratio of 95.87, a P/E/G ratio of 3.28 and a beta of 1.45. The stock has a 50 day moving average price of $117.64 and a two-hundred day moving average price of $115.23.

Trade Desk (NASDAQ:TTD) last posted its 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%. Sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk in the fourth quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its holdings 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 in the last quarter. Synergy Asset Management LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.