Trade Desk (NASDAQ:TTD) Hits New 12-Month Low After Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report)'s share price hit a new 52-week low on Monday after Jefferies Financial Group lowered their price target on the stock from $120.00 to $75.00. Jefferies Financial Group currently has a buy rating on the stock. Trade Desk traded as low as $52.90 and last traded at $54.33, with a volume of 1206068 shares. The stock had previously closed at $55.85.

A number of other research firms have also recently issued reports on TTD. JMP Securities cut their target price on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating on the stock in a research note on Thursday, February 13th. Truist Financial reduced their price objective on Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. UBS Group boosted their target price on Trade Desk from $116.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Robert W. Baird dropped their price target on Trade Desk from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $114.38.

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Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the business's 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 transaction, the insider now directly owns 90,709 shares of the company's stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.72% of the company's stock.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focus Financial Network Inc. grew its stake in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company's stock worth $456,000 after acquiring an additional 84 shares during the last quarter. RMR Wealth Builders raised its position in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company's stock valued at $1,247,000 after buying an additional 89 shares during the last quarter. Quotient Wealth Partners LLC lifted its position in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company's stock worth $276,000 after acquiring an additional 94 shares during the period. TFB Advisors LLC boosted its stake in Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company's stock worth $442,000 after buying an additional 94 shares in the last quarter. Finally, Centurion Wealth Management LLC grew its position in Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company's stock valued at $443,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Trading Down 0.8 %

The stock has a market capitalization of $28.09 billion, a P/E ratio of 72.29, a P/E/G ratio of 3.11 and a beta of 1.56. The firm's fifty day moving average is $82.27 and its 200-day moving average is $107.72.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted 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%. Equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

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.