Trade Desk (NASDAQ:TTD) Sets New 52-Week Low – Should You Sell?

The Trade Desk, Inc. (NASDAQ:TTD) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $70.41 and last traded at $71.99, with a volume of 488295 shares traded. The stock had previously closed at $71.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TTD shares. Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. Cantor Fitzgerald decreased their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” 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 research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Stock Performance

The firm has a market capitalization of $34.70 billion, a P/E ratio of 90.14, a PEG ratio of 3.11 and a beta of 1.45. The firm’s 50-day moving average is $110.70 and its 200 day moving average is $114.44.

Trade Desk (NASDAQ:TTD) last issued its quarterly 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 net margin of 16.08% and a return on equity of 16.38%. As a group, research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. Edgewood Management LLC raised its holdings in shares of Trade Desk by 133.3% in 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 during the period. Norges Bank acquired a new position in Trade Desk during the fourth quarter worth approximately $524,187,000. Brown Advisory Inc. raised its stake in Trade Desk by 3,037.0% in the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after buying an additional 2,628,409 shares during the period. Jennison Associates LLC lifted its position in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Trade Desk in the fourth quarter valued at approximately $231,570,000. 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.