Trade Desk (NASDAQ:TTD) Price Target Lowered to $103.00 at DA Davidson

Trade Desk (NASDAQ:TTD) had its price objective decreased by DA Davidson from $134.00 to $103.00 in a report issued on Thursday morning,Benzinga reports. DA Davidson currently has a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Oppenheimer lifted their price target on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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. Macquarie increased their price target on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Wolfe Research lifted their price objective on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Loop Capital increased their target price on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $121.20.

Trade Desk Stock Down 33.0 %

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

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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 net margin of 13.34% and a return on equity of 13.17%. Research analysts expect that Trade Desk will post 0.87 EPS for the current fiscal year.

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

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the 4th quarter worth $26,000. Harbor Investment Advisory LLC grew its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC bought a new position in Trade Desk in the fourth quarter worth about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the fourth quarter valued at about $34,000. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares in the last quarter. Institutional investors 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.