Trade Desk (NASDAQ:TTD) Sets New 1-Year Low After Analyst Downgrade

The Trade Desk (NASDAQ:TTD) shares hit a new 52-week low during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $25.00 to $24.00. Wells Fargo & Company currently has an equal weight rating on the stock. Trade Desk traded as low as $20.80 and last traded at $20.7010, with a volume of 11257784 shares changing hands. The stock had previously closed at $22.21.

TTD has been the topic of a number of other reports. Cannonball Research raised Trade Desk to a “strong-buy” rating in a research report on Monday, January 12th. Rosenblatt Securities reissued a “neutral” rating and set a $25.00 price target (down from $36.00) on shares of Trade Desk in a research report on Wednesday, March 18th. Morgan Stanley dropped their price target on Trade Desk from $42.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Truist Financial dropped their price target on Trade Desk from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Scotiabank reissued a “sector perform” rating and set a $32.00 price target (down from $60.00) on shares of Trade Desk in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eighteen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Trade Desk has an average rating of “Hold” and an average target price of $41.91.

Insider Activity

In other news, Director Kathryn E. Falberg sold 102,828 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $30.45, for a total value of $3,131,112.60. Following the completion of the transaction, the director owned 1,946 shares of the company’s stock, valued at approximately $59,255.70. This represents a 98.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Family Legacy Financial Solutions LLC boosted its stake in Trade Desk by 163.2% during the third quarter. Family Legacy Financial Solutions LLC now owns 500 shares of the technology company’s stock valued at $25,000 after buying an additional 310 shares in the last quarter. Versant Capital Management Inc boosted its stake in Trade Desk by 175.8% during the third quarter. Versant Capital Management Inc now owns 524 shares of the technology company’s stock valued at $26,000 after buying an additional 334 shares in the last quarter. Root Financial Partners LLC bought a new position in Trade Desk during the third quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its stake in Trade Desk by 2,382.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock valued at $27,000 after buying an additional 691 shares in the last quarter. Finally, Transce3nd LLC bought a new position in Trade Desk during the second quarter valued at about $28,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 6.7%

The company has a 50 day moving average of $25.70 and a two-hundred day moving average of $36.90. The firm has a market cap of $9.86 billion, a P/E ratio of 22.94, a PEG ratio of 0.87 and a beta of 1.18.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 25th. The technology company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. Trade Desk had a return on equity of 16.89% and a net margin of 15.31%.The business had revenue of $846.79 million during the quarter, compared to analysts’ expectations of $840.56 million. During the same quarter last year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts expect that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback plan on Wednesday, February 25th that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.