Jefferies Financial Group Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price lowered by research analysts at Jefferies Financial Group from $120.00 to $75.00 in a report released on Wednesday,Briefing.com Automated Import reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 31.35% from the company’s current price.

TTD has been the subject of several other research reports. KeyCorp reduced their target price on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Morgan Stanley lowered their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Susquehanna dropped their price objective on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial cut their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.38.

Trade Desk Stock Performance

Shares of TTD opened at $57.10 on Wednesday. Trade Desk has a fifty-two week low of $52.90 and a fifty-two week high of $141.53. The firm has a 50-day simple moving average of $82.27 and a 200-day simple moving average of $107.72. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 73.21, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Equities research analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 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. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TTD. Investment Management Corp VA ADV purchased a new stake in Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at $26,000. Harbor Investment Advisory LLC increased its holdings in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new position in shares of Trade Desk in the 4th quarter worth $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in Trade Desk in the fourth quarter valued at $34,000. 67.77% of the stock is currently owned by hedge funds and other 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.