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

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price hit a new 52-week low during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $101.00 to $72.00. Wells Fargo & Company currently has an overweight rating on the stock. Trade Desk traded as low as $52.90 and last traded at $54.33, with a volume of 1206068 shares changing hands. The stock had previously closed at $55.85.

A number of other research analysts have also issued reports on TTD. DA Davidson reduced their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Stifel Nicolaus lowered their target price 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. KeyCorp reduced their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, BMO Capital Markets decreased their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors have recently added to or reduced their stakes in TTD. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk in the 4th quarter worth about $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC increased its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Midwest Capital Advisors LLC bought a new position in Trade Desk during the 4th quarter worth approximately $34,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Trade Desk Trading Up 4.3 %

The company has a market cap of $28.33 billion, a price-to-earnings ratio of 73.21, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm has a 50-day moving average price of $82.27 and a 200 day moving average price of $107.72.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is 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.