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

The Trade Desk, Inc. (NASDAQ:TTD) shares 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 traded. The stock had previously closed at $58.84.

Analysts Set New Price Targets

A number of brokerages have commented on TTD. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Truist Financial cut their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. DA Davidson cut their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Scotiabank cut their price target on 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. Finally, BMO Capital Markets cut their price target on Trade Desk from $160.00 to $115.00 and set an “outperform” 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Price Performance

The company has a market capitalization of $26.76 billion, a P/E ratio of 69.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The company has a fifty day moving average price of $99.14 and a 200 day moving average price of $111.81.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, equities research analysts predict 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 initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’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 value of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % 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, insider Jay R. Grant sold 18,524 shares of the company’s 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 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. Over the last three months, insiders sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors have recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Trade Desk in the fourth quarter worth approximately $17,176,000. Centaurus Financial Inc. lifted its position in shares of Trade Desk by 84.2% during the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after acquiring an additional 2,965 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $591,000. Lighthouse Financial LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $3,536,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Trade Desk during the 4th quarter valued at $117,000. 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.