Trade Desk (NASDAQ:TTD) Price Target Cut to $100.00 by Analysts at Cantor Fitzgerald

Trade Desk (NASDAQ:TTD) had its price objective dropped by stock analysts at Cantor Fitzgerald from $115.00 to $100.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 19.31% from the company’s current price.

Several other analysts also recently weighed in on TTD. Royal Bank of Canada lifted their target price on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Oppenheimer raised their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Wolfe Research raised their target price on Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.77.

Trade Desk Stock Down 31.4 %

TTD traded down $38.42 on Thursday, hitting $83.82. 20,315,429 shares of the company traded hands, compared to its average volume of 4,484,090. Trade Desk has a 12-month low of $72.21 and a 12-month high of $141.53. The company has a 50 day moving average of $123.20 and a 200-day moving average of $115.54. The stock has a market capitalization of $41.37 billion, a PE ratio of 137.58, a PEG ratio of 3.63 and a beta of 1.45.

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 return on equity of 13.17% and a net margin of 13.34%. On average, research analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction 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 transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Large investors have recently made changes to their positions in the business. Ithaka Group LLC boosted its position in Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after purchasing an additional 4,836 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Trade Desk by 33.0% during the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after purchasing an additional 4,296 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after purchasing an additional 358,350 shares in the last quarter. Assetmark Inc. boosted its position in shares of Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares during the period. Finally, Swiss National Bank grew its stake in shares of Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds 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.