The Trade Desk, Inc. (NASDAQ:TTD) Receives $115.41 Average PT from Analysts

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have earned a consensus rating of “Moderate Buy” from the twenty-nine research firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $114.38.

Several research firms have issued reports on TTD. Wolfe Research upped their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup lowered their price objective on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Royal Bank of Canada lowered their price target on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Finally, DA Davidson dropped their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Trade Desk during the fourth quarter worth $524,187,000. Brown Advisory Inc. increased its holdings in Trade Desk by 3,037.0% in the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock worth $319,089,000 after purchasing an additional 2,628,409 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Trade Desk in the 4th quarter worth about $231,570,000. Franklin Resources Inc. boosted its stake in shares of Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after purchasing an additional 1,354,891 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Trade Desk by 44.8% during the fourth quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after purchasing an additional 1,172,082 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

NASDAQ:TTD opened at $46.24 on Tuesday. Trade Desk has a 52-week low of $45.02 and a 52-week high of $141.53. The company has a market cap of $22.94 billion, a P/E ratio of 59.28, a P/E/G ratio of 3.11 and a beta of 1.56. The stock’s 50-day simple moving average is $78.11 and its 200 day simple moving average is $106.55.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.