Stifel Nicolaus Cuts Trade Desk (NASDAQ:TTD) Price Target to $122.00

Trade Desk (NASDAQ:TTD) had its price target reduced by research analysts at Stifel Nicolaus from $144.00 to $122.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 46.49% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday. Macquarie lifted their target price on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Wolfe Research boosted their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. BMO Capital Markets boosted their price target on shares of Trade Desk from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Finally, Wedbush boosted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $129.27.

Trade Desk Stock Down 31.9 %

TTD traded down $38.95 during trading on Thursday, reaching $83.28. The company’s stock had a trading volume of 13,708,679 shares, compared to its average volume of 4,368,422. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 136.65, a PEG ratio of 3.63 and a beta of 1.45. The firm has a fifty day simple moving average of $123.20 and a two-hundred day simple moving average of $115.54. Trade Desk has a 1 year low of $72.21 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS 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%. As a group, equities analysts forecast that Trade Desk will post 0.87 EPS for the current fiscal year.

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

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents 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 dated 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % 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 over the last 90 days. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Focus Financial Network Inc. increased its holdings in Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after buying an additional 84 shares in the last quarter. CAP Partners LLC increased its stake in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. RMR Wealth Builders increased its stake in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in shares of Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. Finally, TFB Advisors LLC increased its stake in shares of Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.