Trade Desk (NASDAQ:TTD) Stock Price Down 3.2% – Time to Sell?

The Trade Desk, Inc. (NASDAQ:TTD) fell 3.2% during trading on Tuesday . The company traded as low as $64.56 and last traded at $65.01. 4,038,522 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 7,646,995 shares. The stock had previously closed at $67.17.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TTD. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and increased their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Citigroup lowered their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Truist Financial lowered their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Susquehanna dropped their target price on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Stock Performance

The firm has a market cap of $33.54 billion, a price-to-earnings ratio of 86.67, a P/E/G ratio of 3.11 and a beta of 1.45. The business has a 50 day simple moving average of $108.51 and a 200-day simple moving average of $114.24.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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%. As a group, research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction 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 transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on 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 sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Focus Financial Network Inc. lifted its stake in Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares during the last quarter. CAP Partners LLC lifted its position in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after buying an additional 86 shares during the last quarter. RMR Wealth Builders grew its stake in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 89 shares during the period. Quotient Wealth Partners LLC increased its holdings in Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares during the last quarter. Finally, TFB Advisors LLC raised its stake in Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after acquiring an additional 94 shares during the period. 67.77% of the stock is owned by institutional investors.

About Trade Desk

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.