Trade Desk (NASDAQ:TTD) Stock Price Down 2.9% – Here’s What Happened

The Trade Desk, Inc. (NASDAQ:TTD) shares were down 2.9% during mid-day trading on Wednesday . The company traded as low as $65.60 and last traded at $65.64. Approximately 2,561,862 shares changed hands during trading, a decline of 67% from the average daily volume of 7,749,278 shares. The stock had previously closed at $67.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TTD shares. Macquarie lifted their price target on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. JMP Securities reduced their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. KeyCorp increased their price target on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a research note on Friday. Finally, Wells Fargo & Company lowered their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Down 0.1 %

The stock has a market capitalization of $32.20 billion, a P/E ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.45. The company has a 50 day moving average of $105.07 and a 200-day moving average of $113.33.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results 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%. Equities analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

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

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of 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 hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Trade Desk by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock worth $256,000 after purchasing an additional 417 shares during the period. Concurrent Investment Advisors LLC grew its position in Trade Desk by 4.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,222 shares of the technology company’s stock worth $1,011,000 after purchasing an additional 434 shares in the last quarter. TFB Advisors LLC purchased a new position in shares of Trade Desk during the third quarter valued at $402,000. AIA Group Ltd increased its holdings in shares of Trade Desk by 12.1% in the 3rd quarter. AIA Group Ltd now owns 50,305 shares of the technology company’s stock valued at $5,516,000 after purchasing an additional 5,449 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Trade Desk in the 3rd quarter worth approximately $219,000. 67.77% of the stock is owned by institutional investors.

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.