Trade Desk (NASDAQ:TTD) Reaches New 12-Month Low – What’s Next?

The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week low on Thursday . The stock 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.

Analyst Ratings Changes

Several research firms have weighed in on TTD. UBS Group upped their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. Scotiabank lowered their price objective 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. Susquehanna cut their target price on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. DA Davidson lowered their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Wolfe Research lifted their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $120.97.

Trade Desk Price Performance

The business has a fifty day moving average of $117.64 and a 200 day moving average of $115.23. The stock has a market cap of $36.99 billion, a PE ratio of 95.87, a P/E/G ratio of 3.28 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. On average, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

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