Trade Desk (NASDAQ:TTD) Reaches New 12-Month Low – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD)’s stock price reached a new 52-week low on Monday . The company traded as low as $52.90 and last traded at $54.33, with a volume of 1206068 shares changing hands. The stock had previously closed at $55.85.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Oppenheimer reduced their price target on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. DA Davidson lowered their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Morgan Stanley reduced their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Six investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Down 3.5 %

The company has a market cap of $26.73 billion, a P/E ratio of 69.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm’s 50-day moving average price is $85.01 and its 200-day moving average price is $108.42.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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, analysts forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % 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 company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Institutional Trading of Trade Desk

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in shares of Trade Desk by 1.3% during the third quarter. FMR LLC now owns 2,616,203 shares of the technology company’s stock valued at $286,867,000 after purchasing an additional 32,999 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of Trade Desk by 82.9% in the third quarter. Townsquare Capital LLC now owns 7,887 shares of the technology company’s stock worth $865,000 after acquiring an additional 3,574 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trade Desk by 40.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 125,102 shares of the technology company’s stock valued at $13,717,000 after acquiring an additional 36,139 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Trade Desk by 5.6% during the third quarter. Hantz Financial Services Inc. now owns 13,243 shares of the technology company’s stock valued at $1,452,000 after acquiring an additional 697 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Trade Desk by 6.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,836 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 2,516 shares during the last quarter. 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.