Trade Desk (NASDAQ:TTD) Reaches New 12-Month Low - Here's What Happened

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s stock price reached a new 52-week low on Thursday . The stock traded as low as $57.86 and last traded at $60.20, with a volume of 12426696 shares. The stock had previously closed at $58.84.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Susquehanna lowered their price target on Trade Desk from $150.00 to $135.00 and set a "positive" rating on the stock in a research report on Thursday, February 13th. UBS Group boosted their price target on Trade Desk from $116.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company lowered their price target on Trade Desk from $142.00 to $101.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Scotiabank lowered their price target on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 13th. Finally, Citizens Jmp raised Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. 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. According to data from MarketBeat, Trade Desk currently has a consensus rating of "Moderate Buy" and an average price target of $119.45.

Trade Desk Trading Up 2.3 %

The business has a 50-day moving average price of $101.57 and a two-hundred day moving average price of $112.58. The stock has a market capitalization of $29.86 billion, a P/E ratio of 77.18, a P/E/G ratio of 3.11 and a beta of 1.63.

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Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 16.38% and a net margin of 16.08%. On average, sell-side analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors 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 often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company's stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ithaka Group LLC increased its stake in shares of Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company's stock valued at $12,378,000 after buying an additional 4,836 shares during the period. Lyell Wealth Management LP increased its stake in shares of Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after buying an additional 19,204 shares during the period. Nordea Investment Management AB increased its stake in shares of Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock valued at $159,132,000 after buying an additional 358,350 shares during the period. Swiss National Bank increased its stake in shares of Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company's stock valued at $144,892,000 after buying an additional 4,500 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company's stock worth $231,294,000 after purchasing an additional 68,206 shares during the period. Institutional investors and hedge funds 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.

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