Trade Desk (NASDAQ:TTD) Stock Price Down 3.9% After Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD) shares dropped 3.9% during trading on Monday after UBS Group lowered their price target on the stock from $116.00 to $80.00. UBS Group currently has a buy rating on the stock. Trade Desk traded as low as $47.71 and last traded at $47.86. Approximately 7,028,117 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 5,175,097 shares. The stock had previously closed at $49.78.

Other equities analysts have also issued research reports about the stock. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. Loop Capital dropped their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Oppenheimer decreased their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price objective on Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada decreased their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.69.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its position in shares of Trade Desk by 189.4% during the first quarter. Harbor Capital Advisors Inc. now owns 13,873 shares of the technology company’s stock valued at $759,000 after buying an additional 9,079 shares during the period. Parisi Gray Wealth Management grew its holdings in shares of Trade Desk by 7.0% during the 1st quarter. Parisi Gray Wealth Management now owns 4,852 shares of the technology company’s stock worth $266,000 after acquiring an additional 318 shares during the period. Farther Finance Advisors LLC raised its position in shares of Trade Desk by 120.6% in the 1st quarter. Farther Finance Advisors LLC now owns 3,916 shares of the technology company’s stock worth $224,000 after acquiring an additional 2,141 shares in the last quarter. Deane Retirement Strategies Inc. lifted its stake in shares of Trade Desk by 4.6% in the 1st quarter. Deane Retirement Strategies Inc. now owns 34,523 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 1,508 shares during the period. Finally, CMH Wealth Management LLC boosted its position in shares of Trade Desk by 261.1% during the first quarter. CMH Wealth Management LLC now owns 203,648 shares of the technology company’s stock valued at $11,144,000 after purchasing an additional 147,247 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Price Performance

The company has a 50 day moving average of $67.05 and a two-hundred day moving average of $103.17. The company has a market capitalization of $24.13 billion, a PE ratio of 62.36, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk declared that its board has authorized a share buyback plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.