Trade Desk (NASDAQ:TTD) Given New $108.00 Price Target at Citigroup

Trade Desk (NASDAQ:TTD) had its price objective reduced by Citigroup from $140.00 to $108.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the company. Cantor Fitzgerald cut their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday. KeyCorp upped their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday. Wedbush raised their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Robert W. Baird reduced their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Down 33.0 %

NASDAQ:TTD opened at $81.92 on Thursday. The firm has a market capitalization of $40.43 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a 12-month low of $72.21 and a 12-month high of $141.53. The firm has a 50-day moving average price of $122.11 and a 200 day moving average price of $115.31.

Trade Desk (NASDAQ:TTD) 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 13.17% and a net margin of 13.34%. On average, research analysts expect that Trade Desk will post 0.87 EPS for the current year.

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

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The shares were 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 directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its stake in Trade Desk by 10.6% in the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after acquiring an additional 12,384 shares during the period. Swedbank AB lifted its holdings in shares of Trade Desk by 22.6% during the 3rd quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after purchasing an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Trade Desk by 12.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Trade Desk during the 3rd quarter worth approximately $263,000. Finally, Paragon Capital Management Inc. acquired a new stake in Trade Desk during the 3rd quarter worth approximately $811,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.