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

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) shares traded down 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. 7,028,117 shares were traded during trading, an increase of 36% from the average session volume of 5,175,097 shares. The stock had previously closed at $49.78.

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TTD has been the topic of a number of other reports. Citizens Jmp upgraded shares of Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. Jefferies Financial Group lowered their price objective on shares of Trade Desk from $120.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Loop Capital reduced their price objective 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. Piper Sandler reaffirmed an "overweight" rating and issued a $110.00 price objective (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Finally, DA Davidson cut their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.69.

Read Our Latest Report on TTD

Insider Transactions at Trade Desk

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In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company's stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.72% of the stock is owned by corporate insiders.

Institutional Trading of Trade Desk

A number of hedge funds have recently bought and sold shares of the stock. Investment Management Corp VA ADV acquired a new position in shares of Trade Desk during the fourth quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its holdings in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at $34,000. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Down 3.5 %

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The firm has a 50-day moving average of $68.37 and a 200 day moving average of $103.60. The stock has a market capitalization of $23.82 billion, a P/E ratio of 61.56, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. Analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is 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.

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