Trade Desk (NASDAQ:TTD) Sets New 12-Month Low – Here’s What Happened

The Trade Desk, Inc. (NASDAQ:TTD) reached a new 52-week low during trading on Friday . The company traded as low as $63.82 and last traded at $64.08, with a volume of 4670926 shares. The stock had previously closed at $64.98.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Wedbush lifted their target price on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and increased their price target for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Robert W. Baird lowered their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Loop Capital cut their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Stock Down 0.1 %

The company has a market capitalization of $32.20 billion, a PE ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm’s 50 day simple moving average is $103.94 and its 200 day simple moving average is $113.14.

Trade Desk (NASDAQ:TTD) last released 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 return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last 90 days. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TTD. Vanguard Group Inc. increased its holdings in Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after buying an additional 253,137 shares during the period. Baillie Gifford & Co. boosted its position in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Edgewood Management LLC raised its position in shares of Trade Desk by 133.3% in the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

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.