Truist Financial Lowers Trade Desk (NASDAQ:TTD) Price Target to $130.00

Trade Desk (NASDAQ:TTD) had its price objective decreased by research analysts at Truist Financial from $155.00 to $130.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would indicate a potential upside of 54.27% from the stock’s previous close.

Several other research firms have also recently issued reports on TTD. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday. Wells Fargo & Company raised their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Morgan Stanley lowered their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.73.

Trade Desk Stock Down 31.1 %

Shares of NASDAQ:TTD opened at $84.27 on Thursday. Trade Desk has a fifty-two week low of $72.21 and a fifty-two week high of $141.53. The firm’s 50-day simple moving average is $123.20 and its 200-day simple moving average is $115.54. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 137.82, a PEG ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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%. On average, research analysts forecast that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Trade Desk

In other Trade Desk 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 value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last 90 days. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after buying an additional 253,137 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its holdings in Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Finally, Norges Bank acquired a new stake in Trade Desk during the 4th quarter valued at approximately $524,187,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.