Royal Bank of Canada Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective decreased by Royal Bank of Canada from $120.00 to $100.00 in a research note released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Several other analysts also recently commented on TTD. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and increased their target price for the company from $85.00 to $115.00 in a report on Monday, November 25th. JMP Securities dropped their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Benchmark raised Trade Desk from a “sell” rating to a “hold” rating in a report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Finally, Oppenheimer cut their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Trading Down 5.2 %

Shares of TTD stock opened at $53.59 on Monday. Trade Desk has a 12 month low of $53.39 and a 12 month high of $141.53. The firm has a market capitalization of $26.59 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The firm has a fifty day simple moving average of $95.03 and a two-hundred day simple moving average of $110.89.

Trade Desk (NASDAQ:TTD) last posted its 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 return on equity of 16.38% and a net margin of 16.08%. On average, 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 initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last 90 days. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Edgewood Management LLC grew its holdings in Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the period. Norges Bank bought a new position in Trade Desk during the 4th quarter valued at approximately $524,187,000. Brown Advisory Inc. raised its stake in Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after buying an additional 2,628,409 shares during the last quarter. Jennison Associates LLC boosted its holdings in Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Trade Desk in the fourth quarter worth $231,570,000. 67.77% of the stock is currently owned by 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.