Trade Desk (NASDAQ:TTD) Stock Price Down 3.2% – What’s Next?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) were down 3.2% during trading on Tuesday . The company traded as low as $64.56 and last traded at $65.01. Approximately 4,038,522 shares changed hands during trading, a decline of 47% from the average daily volume of 7,646,995 shares. The stock had previously closed at $67.17.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. 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 note on Thursday, February 13th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Morgan Stanley lowered their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Stock Performance

The firm has a market cap of $33.54 billion, a PE ratio of 86.67, a PEG ratio of 3.11 and a beta of 1.45. The company’s 50-day simple moving average is $108.51 and its two-hundred day simple moving average is $114.24.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Focus Financial Network Inc. raised its holdings in 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 purchasing an additional 84 shares in the last quarter. CAP Partners LLC increased its stake in shares of Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after acquiring an additional 86 shares in the last quarter. RMR Wealth Builders lifted its position in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC grew its holdings in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares during the period. Finally, TFB Advisors LLC increased its stake in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.