Trade Desk (NASDAQ:TTD) Shares Down 3.5% – Here’s What Happened

The Trade Desk (NASDAQ:TTD)’s stock price traded down 3.5% during mid-day trading on Thursday . The stock traded as low as $37.04 and last traded at $37.30. 12,660,903 shares were traded during trading, an increase of 7% from the average session volume of 11,848,299 shares. The stock had previously closed at $38.65.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTD. Citigroup reaffirmed an “outperform” rating on shares of Trade Desk in a research note on Tuesday, September 30th. Jefferies Financial Group set a $40.00 price objective on Trade Desk and gave the stock a “hold” rating in a report on Thursday, December 11th. UBS Group restated a “buy” rating and issued a $82.00 price objective (up from $80.00) on shares of Trade Desk in a report on Friday, November 7th. DA Davidson lowered their target price on shares of Trade Desk from $80.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, JMP Securities set a $60.00 price objective on Trade Desk and gave the stock a “market outperform” rating in a research note on Tuesday, September 30th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $71.19.

Trade Desk Stock Performance

The company has a market capitalization of $18.03 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a 50 day moving average price of $39.80 and a 200 day moving average price of $53.64.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $739.43 million during the quarter, compared to the consensus estimate of $719.11 million. Trade Desk had a net margin of 15.72% and a return on equity of 16.00%. Trade Desk’s revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. Research analysts forecast that The Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently made changes to their positions in TTD. State Street Corp boosted its holdings in Trade Desk by 271.1% in the 3rd quarter. State Street Corp now owns 36,354,274 shares of the technology company’s stock worth $1,781,723,000 after buying an additional 26,559,005 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Trade Desk by 27.7% in the third quarter. Vanguard Group Inc. now owns 56,875,852 shares of the technology company’s stock worth $2,787,486,000 after buying an additional 12,321,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Trade Desk by 52.1% in the second quarter. Geode Capital Management LLC now owns 12,314,817 shares of the technology company’s stock worth $884,860,000 after buying an additional 4,218,975 shares in the last quarter. Invesco Ltd. boosted its holdings in Trade Desk by 101.0% in the 3rd quarter. Invesco Ltd. now owns 6,807,971 shares of the technology company’s stock valued at $333,659,000 after purchasing an additional 3,421,074 shares during the period. Finally, Norges Bank purchased a new position in shares of Trade Desk during the 2nd quarter valued at $197,362,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.