Trade Desk (NASDAQ:TTD) Price Target Lowered to $115.00 at JMP Securities

Trade Desk (NASDAQ:TTD) had its price target reduced by JMP Securities from $150.00 to $115.00 in a report issued on Thursday morning,Benzinga reports. They currently have a market outperform rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Morgan Stanley reduced their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada upped their target price on Trade Desk from $136.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price target on Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday. Citigroup upped their price objective on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Oppenheimer lifted their target price on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

Trade Desk Price Performance

TTD opened at $81.92 on Thursday. The stock’s 50 day moving average price is $122.11 and its 200 day moving average price is $115.31. The stock has a market cap 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 12 month low of $72.21 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 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%. Equities analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were 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. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

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