Trade Desk (NASDAQ:TTD) Trading Down 3.9% Following Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) shares fell 3.9% during trading on Monday after Morgan Stanley lowered their price target on the stock from $132.00 to $60.00. Morgan Stanley currently has an overweight rating on the stock. Trade Desk traded as low as $47.71 and last traded at $47.86. 7,028,117 shares were traded during trading, an increase of 36% from the average session volume of 5,175,097 shares. The stock had previously closed at $49.78.

Other equities research analysts have also recently issued research reports about the company. Cfra Research upgraded Trade Desk to a "moderate buy" rating in a research note on Tuesday, March 25th. Needham & Company LLC restated a "buy" rating and set a $84.00 price objective on shares of Trade Desk in a research report on Monday. UBS Group lowered their target price on shares of Trade Desk from $116.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Citizens Jmp upgraded shares of Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. Finally, DA Davidson dropped their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.10.

Insider Activity at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk 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. The trade was a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Advisory Resource Group raised its stake in shares of Trade Desk by 1.0% in the 3rd quarter. Advisory Resource Group now owns 10,502 shares of the technology company's stock valued at $1,152,000 after acquiring an additional 101 shares during the period. Anchor Investment Management LLC raised its position in Trade Desk by 357.9% in the third quarter. Anchor Investment Management LLC now owns 870 shares of the technology company's stock valued at $95,000 after purchasing an additional 680 shares during the period. World Investment Advisors LLC lifted its stake in shares of Trade Desk by 10.0% during the third quarter. World Investment Advisors LLC now owns 8,849 shares of the technology company's stock worth $970,000 after purchasing an additional 803 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Trade Desk in the third quarter worth about $1,194,000. Finally, Synovus Financial Corp acquired a new stake in shares of Trade Desk in the third quarter valued at about $245,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

Trade Desk Stock Performance

The firm has a market capitalization of $24.93 billion, a PE ratio of 64.44, a P/E/G ratio of 3.11 and a beta of 1.56. The firm has a fifty day moving average of $61.52 and a 200 day moving average of $101.61.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its 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%. Research 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 plan 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 plans are typically a sign that the company's board of directors believes its shares are 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.