Trade Desk (NASDAQ:TTD) Price Target Cut to $108.00 by Analysts at Citigroup

Trade Desk (NASDAQ:TTD) had its price target decreased by Citigroup from $140.00 to $108.00 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

Several other brokerages also recently issued reports on TTD. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. JMP Securities reduced their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. UBS Group upped their price objective on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson decreased their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Trade Desk Price Performance

TTD stock opened at $81.92 on Thursday. The firm has a market capitalization of $40.43 billion, a P/E ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. Trade Desk has a 52-week low of $72.21 and a 52-week high of $141.53. The company’s 50 day simple moving average is $122.11 and its 200-day simple moving average is $115.31.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. Sell-side analysts predict 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 program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was 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 $88,338,485.76. This trade represents 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 valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its position in shares of Trade Desk by 6.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 282,003 shares of the technology company’s stock valued at $33,109,000 after buying an additional 16,144 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Trade Desk by 374.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 290,418 shares of the technology company’s stock valued at $34,133,000 after acquiring an additional 229,196 shares during the period. First Commonwealth Financial Corp PA acquired a new position in Trade Desk in the 4th quarter valued at approximately $435,000. Jump Financial LLC lifted its position in shares of Trade Desk by 404.8% in the 4th quarter. Jump Financial LLC now owns 143,020 shares of the technology company’s stock worth $16,809,000 after acquiring an additional 114,687 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of Trade Desk by 17.2% in the 4th quarter. Anchor Investment Management LLC now owns 1,020 shares of the technology company’s stock worth $120,000 after acquiring an additional 150 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.