Trade Desk (NASDAQ:TTD) Reaches New 1-Year Low – Here’s What Happened

The Trade Desk (NASDAQ:TTD) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $18.23 and last traded at $18.1650, with a volume of 11591441 shares traded. The stock had previously closed at $18.96.

Analyst Ratings Changes

A number of brokerages have issued reports on TTD. Wedbush set a $21.00 price objective on Trade Desk and gave the company a “neutral” rating in a research report on Friday, May 8th. UBS Group set a $31.00 price objective on Trade Desk and gave the company a “buy” rating in a research note on Tuesday, April 21st. Jefferies Financial Group reiterated a “hold” rating on shares of Trade Desk in a report on Tuesday, March 17th. William Blair downgraded Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Finally, Citigroup restated a “neutral” rating on shares of Trade Desk in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty-one have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.91.

Trade Desk Stock Performance

The company has a market cap of $8.70 billion, a PE ratio of 21.03, a P/E/G ratio of 0.88 and a beta of 1.05. The company’s 50 day moving average is $21.55 and its 200 day moving average is $27.64.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.24). The company had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. Trade Desk had a net margin of 14.57% and a return on equity of 16.91%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Analysts expect that The Trade Desk will post 1.17 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 25th that authorizes the company to buyback $350.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In related news, Director Samantha Jacobson sold 53,681 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total value of $1,134,816.34. Following the completion of the sale, the director owned 13,099 shares in the company, valued at approximately $276,912.86. The trade was a 80.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Trade Desk by 27.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after buying an additional 12,321,000 shares in the last quarter. State Street Corp grew its holdings in Trade Desk by 271.1% during the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after acquiring an additional 26,559,005 shares in the last quarter. Invesco Ltd. increased its position in Trade Desk by 101.0% during the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock valued at $333,659,000 after purchasing an additional 3,421,074 shares during the period. Renaissance Technologies LLC increased its position in Trade Desk by 59.0% during the 1st quarter. Renaissance Technologies LLC now owns 5,440,541 shares of the technology company’s stock valued at $123,446,000 after purchasing an additional 2,018,525 shares during the period. Finally, Norges Bank purchased a new position in Trade Desk during the 4th quarter valued at about $197,550,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

About Trade Desk

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.