Trade Desk (NASDAQ:TTD) Price Target Lowered to $103.00 at DA Davidson

Trade Desk (NASDAQ:TTD) had its price objective trimmed by DA Davidson from $134.00 to $103.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts have also commented on the stock. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Royal Bank of Canada raised their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Wedbush increased their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $145.00 target price on shares of Trade Desk in a report on Thursday. Finally, Robert W. Baird reduced their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $121.20.

Trade Desk Stock Performance

TTD opened at $81.92 on Thursday. The stock has a market capitalization of $40.43 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The stock’s 50 day moving average price is $122.11 and its 200-day moving average price is $115.31. Trade Desk has a 52-week low of $72.21 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. Research analysts forecast that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $509,570.88. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds have recently modified their holdings of the business. Creative Planning lifted its position in Trade Desk by 10.6% during the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after purchasing an additional 12,384 shares in the last quarter. Swedbank AB increased its position in Trade Desk by 22.6% in the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after buying an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Trade Desk by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock worth $1,211,000 after buying an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Trade Desk during the 3rd quarter valued at about $263,000. Finally, Paragon Capital Management Inc. bought a new position in shares of Trade Desk during the 3rd quarter valued at approximately $811,000. Institutional investors own 67.77% of the company’s stock.

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.