Trade Desk (NASDAQ:TTD) Hits New 1-Year Low - Here's What Happened

Shares of The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $42.96 and last traded at $43.30, with a volume of 1563315 shares traded. The stock had previously closed at $46.24.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of Trade Desk from $74.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday. Oppenheimer cut their target price on Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group lowered their price target on Trade Desk from $120.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird cut their price objective on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Finally, Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $111.79.

Trade Desk Price Performance

The firm's 50 day simple moving average is $68.37 and its 200-day simple moving average is $103.64. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 63.82, a P/E/G ratio of 3.11 and a beta of 1.56.

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Trade Desk (NASDAQ:TTD - Get Free Report) last announced 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%. On average, analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a share 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 reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of the company. M&T Bank Corp raised its stake in shares of Trade Desk by 1.7% during the 3rd quarter. M&T Bank Corp now owns 30,958 shares of the technology company's stock worth $3,395,000 after buying an additional 520 shares in the last quarter. Vestcor Inc raised its position in Trade Desk by 11.4% in the third quarter. Vestcor Inc now owns 8,715 shares of the technology company's stock worth $956,000 after acquiring an additional 894 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Trade Desk by 74.3% in the third quarter. Coldstream Capital Management Inc. now owns 9,707 shares of the technology company's stock valued at $1,131,000 after acquiring an additional 4,138 shares during the period. Toronto Dominion Bank boosted its position in shares of Trade Desk by 27.2% during the 3rd quarter. Toronto Dominion Bank now owns 57,391 shares of the technology company's stock worth $6,293,000 after purchasing an additional 12,279 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Trade Desk during the 3rd quarter worth $208,000. 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.