The Trade Desk (NASDAQ:TTD) Trading Down 18.5% Following Analyst Downgrade

The Trade Desk, Inc. (NASDAQ:TTD) shares were down 18.5% during trading on Monday after KeyCorp lowered their price target on the stock from $851.00 to $740.00. KeyCorp currently has an overweight rating on the stock. The Trade Desk traded as low as $528.09 and last traded at $539.00. Approximately 45,235 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 799,323 shares. The stock had previously closed at $661.43.

A number of other equities analysts have also recently issued reports on TTD. Truist upgraded The Trade Desk from a “hold” rating to a “buy” rating and lowered their target price for the stock from $880.00 to $620.00 in a report on Tuesday. Truist Securities upgraded The Trade Desk from a “hold” rating to a “buy” rating and lowered their target price for the stock from $880.00 to $620.00 in a report on Tuesday. Oppenheimer lowered their target price on The Trade Desk from $950.00 to $600.00 and set an “outperform” rating for the company in a report on Monday. They noted that the move was a valuation call. Rosenblatt Securities lowered their target price on The Trade Desk from $730.00 to $400.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Evercore ISI initiated coverage on The Trade Desk in a report on Tuesday, April 13th. They set an “outperform” rating and a $770.00 target price for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $751.52.

In other The Trade Desk news, CTO David Randall Pickles sold 1,647 shares of the firm’s stock in a transaction that occurred on Wednesday, April 21st. The shares were sold at an average price of $700.00, for a total value of $1,152,900.00. Following the sale, the chief technology officer now owns 47,596 shares in the company, valued at $33,317,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 41,596 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $864.18, for a total transaction of $35,946,431.28. Following the completion of the sale, the chief executive officer now owns 71,870 shares in the company, valued at approximately $62,108,616.60. The disclosure for this sale can be found here. Insiders sold 185,678 shares of company stock worth $146,453,666 over the last three months. 12.04% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of TTD. Sei Investments Co. boosted its position in The Trade Desk by 0.6% in the third quarter. Sei Investments Co. now owns 40,068 shares of the technology company’s stock valued at $20,820,000 after buying an additional 224 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of The Trade Desk during the fourth quarter worth $64,000. Diversified Trust Co acquired a new position in shares of The Trade Desk during the fourth quarter worth $268,000. HBW Advisory Services LLC acquired a new position in shares of The Trade Desk during the fourth quarter worth $262,000. Finally, Brookstone Capital Management acquired a new position in shares of The Trade Desk during the fourth quarter worth $771,000. Hedge funds and other institutional investors own 66.43% of the company’s stock.

The company has a market cap of $24.37 billion, a price-to-earnings ratio of 176.15, a price-to-earnings-growth ratio of 9.99 and a beta of 2.59. The business’s fifty day moving average price is $687.45 and its 200 day moving average price is $771.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.73 and a quick ratio of 1.73.

The Trade Desk shares are going to split on Thursday, June 17th. The 10-1 split was announced on Monday, May 10th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, June 16th.

The Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Monday, May 10th. The technology company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $1.07. The company had revenue of $219.80 million for the quarter, compared to analyst estimates of $217.28 million. The Trade Desk had a net margin of 19.31% and a return on equity of 19.65%. The Trade Desk’s revenue was up 36.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, equities research analysts anticipate that The Trade Desk, Inc. will post 3.12 EPS for the current year.

About The Trade Desk (NASDAQ:TTD)

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company operates a self-service cloud-based platform that allows buyers to create, manage, and optimize data-driven digital advertising campaigns in various ad formats and channels, including display, video, audio, in-app, native and social, and on various devices, such as computers, mobile devices, and connected TV.

Read More: Why is the Consumer Price Index (CPI) important?

Receive News & Ratings for The Trade Desk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Trade Desk and related companies with MarketBeat.com's FREE daily email newsletter.