UBS Group Issues Positive Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price raised by UBS Group from $116.00 to $148.00 in a research note issued to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the technology company’s stock.

TTD has been the topic of a number of other research reports. Wedbush boosted their price objective on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Macquarie boosted their price objective on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reduced their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Wells Fargo & Company reduced their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Trading Down 2.1 %

Shares of Trade Desk stock opened at $80.16 on Friday. Trade Desk has a twelve month low of $73.68 and a twelve month high of $141.53. The stock has a market capitalization of $39.56 billion, a P/E ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. The business’s fifty day moving average price is $120.93 and its 200 day moving average price is $115.22.

Trade Desk (NASDAQ:TTD) last issued its 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 13.34% and a return on equity of 13.17%. As a group, sell-side analysts predict that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co bought a new position in Trade Desk in the 4th quarter worth approximately $670,000. Blue Rock Wealth Management LLC acquired a new stake in Trade Desk in the fourth quarter worth approximately $705,000. Mercer Global Advisors Inc. ADV lifted its position in Trade Desk by 20.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 65,937 shares of the technology company’s stock worth $7,750,000 after purchasing an additional 11,037 shares during the period. Itau Unibanco Holding S.A. lifted its position in Trade Desk by 1,016.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 793 shares of the technology company’s stock worth $93,000 after purchasing an additional 722 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Trade Desk by 90.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 178,209 shares of the technology company’s stock worth $20,945,000 after purchasing an additional 84,767 shares during the period. 67.77% of the stock is 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.