Trade Desk (NASDAQ:TTD) Price Target Raised to $142.00

Trade Desk (NASDAQ:TTD) had its price target boosted by KeyCorp from $140.00 to $142.00 in a research note released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Several other analysts have also weighed in on the stock. Wolfe Research lifted their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their target price for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Evercore ISI lifted their price target on shares of Trade Desk from $110.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average target price of $133.20.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $122.23 on Monday. The firm’s 50-day simple moving average is $123.20 and its 200-day simple moving average is $115.54. Trade Desk has a twelve month low of $71.11 and a twelve month high of $141.53. The firm has a market cap of $60.33 billion, a P/E ratio of 200.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, equities analysts forecast that Trade Desk will post 0.87 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Pitcairn Co. grew its holdings in Trade Desk by 313.9% during the fourth quarter. Pitcairn Co. now owns 17,654 shares of the technology company’s stock valued at $2,075,000 after purchasing an additional 13,389 shares during the period. Motley Fool Asset Management LLC boosted its holdings in shares of Trade Desk by 14.7% in the fourth quarter. Motley Fool Asset Management LLC now owns 25,647 shares of the technology company’s stock valued at $3,014,000 after buying an additional 3,284 shares during the period. World Investment Advisors boosted its holdings in shares of Trade Desk by 3.5% in the fourth quarter. World Investment Advisors now owns 9,163 shares of the technology company’s stock valued at $1,077,000 after buying an additional 314 shares during the period. Nicolet Advisory Services LLC boosted its holdings in shares of Trade Desk by 12.2% in the fourth quarter. Nicolet Advisory Services LLC now owns 2,322 shares of the technology company’s stock valued at $276,000 after buying an additional 252 shares during the period. Finally, OneAscent Financial Services LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $236,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.