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

The Trade Desk (NASDAQ:TTD)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $17.69 and last traded at $18.02, with a volume of 21092044 shares changing hands. The stock had previously closed at $18.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TTD shares. HSBC lowered shares of Trade Desk from a “buy” rating to a “reduce” rating and set a $20.00 price target for the company. in a research note on Monday, May 11th. Benchmark restated a “buy” rating on shares of Trade Desk in a research report on Tuesday, June 16th. Wells Fargo & Company set a $20.00 target price on shares of Trade Desk and gave the stock an “equal weight” rating in a report on Friday, May 8th. Scotiabank set a $20.00 target price on shares of Trade Desk in a research note on Monday, May 11th. Finally, Guggenheim lowered their price target on Trade Desk from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.91.

Trade Desk Trading Down 2.6%

The company’s 50 day moving average price is $21.46 and its two-hundred day moving average price is $27.33. The firm has a market cap of $8.47 billion, a PE ratio of 20.48, a PEG ratio of 0.90 and a beta of 1.05.

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

Trade Desk announced that its board has initiated a stock buyback plan on Wednesday, February 25th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Samantha Jacobson sold 53,681 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 13,099 shares of the company’s stock, valued at $276,912.86. This trade represents a 80.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in Trade Desk by 2,382.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 720 shares of the technology company’s stock valued at $27,000 after purchasing an additional 691 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Trade Desk in the fourth quarter worth $30,000. Root Financial Partners LLC increased its stake in shares of Trade Desk by 219.4% in the first quarter. Root Financial Partners LLC now owns 1,319 shares of the technology company’s stock worth $30,000 after purchasing an additional 906 shares in the last quarter. CVA Family Office LLC raised its position in shares of Trade Desk by 62.1% during the 4th quarter. CVA Family Office LLC now owns 898 shares of the technology company’s stock valued at $34,000 after purchasing an additional 344 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Trade Desk during the 4th quarter valued at $35,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Company Profile

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.