Trade Desk (NASDAQ:TTD) Reaches New 52-Week Low - Time to Sell?

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

Analyst Ratings Changes

TTD has been the topic of several research reports. Oppenheimer cut their price objective on shares of Trade Desk from $135.00 to $115.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Citigroup cut their price target on Trade Desk from $140.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their price objective on Trade Desk from $133.00 to $83.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Loop Capital cut their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Finally, Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $119.45.

Trade Desk Stock Up 0.0 %

The company has a market cap of $32.24 billion, a P/E ratio of 83.32, a PEG ratio of 3.11 and a beta of 1.45. The business has a fifty day moving average price of $105.07 and a 200-day moving average price of $113.33.

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Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data 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, research analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 completion of the sale, the chief executive officer now owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the firm's stock in a transaction dated 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 transaction, 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. In the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Trade Desk by 0.6% in 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. raised its position in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company's stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC lifted its stake 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 purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC boosted its position in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Trade Desk by 2.6% during the fourth 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 period. 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.

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