Trade Desk (NASDAQ:TTD) Reaches New 1-Year Low – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $42.96 and last traded at $43.30, with a volume of 1563315 shares changing hands. The stock had previously closed at $46.24.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TTD. Cantor Fitzgerald dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Wedbush raised their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Finally, BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.38.

Trade Desk Stock Performance

The firm’s 50 day moving average price is $78.11 and its two-hundred day moving average price is $106.54. The firm has a market cap of $22.65 billion, a PE ratio of 58.98, a PEG ratio of 3.11 and a beta of 1.56.

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

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

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of large investors have recently modified their holdings of the stock. 111 Capital acquired a new position in shares of Trade Desk during the fourth quarter worth about $562,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Trade Desk in the 4th quarter valued at approximately $17,176,000. Centaurus Financial Inc. raised its holdings in shares of Trade Desk by 84.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after purchasing an additional 2,965 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth $591,000. Finally, Lighthouse Financial LLC acquired a new position in shares of Trade Desk during the fourth quarter worth $3,536,000. Hedge funds and other 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.