Trade Desk (NASDAQ:TTD) Price Target Cut to $100.00 by Analysts at Royal Bank of Canada

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

A number of other research firms also recently commented on TTD. Truist Financial dropped their price target on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Cantor Fitzgerald dropped their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Finally, UBS Group upped their target price on Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Down 5.2 %

NASDAQ TTD opened at $53.59 on Monday. The firm has a 50-day moving average price of $95.03 and a two-hundred day moving average price of $110.89. Trade Desk has a 12-month low of $53.39 and a 12-month high of $141.53. The company has a market capitalization of $26.59 billion, a P/E ratio of 68.71, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released 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%. Equities analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after buying an additional 253,137 shares during the period. Jennison Associates LLC boosted its stake in Trade Desk by 11.0% during 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. 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. Invesco Ltd. grew its holdings in Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the period. Finally, Norges Bank acquired a new stake in Trade Desk in the fourth quarter worth $524,187,000. 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.