Stifel Nicolaus Lowers Trade Desk (NASDAQ:TTD) Price Target to $122.00

Trade Desk (NASDAQ:TTD) had its price target cut by Stifel Nicolaus from $144.00 to $122.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also weighed in on TTD. Robert W. Baird decreased their price objective on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday. Benchmark restated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research note on Friday, November 8th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. BMO Capital Markets increased their price target on shares of Trade Desk from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Macquarie boosted their price objective on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Stock Performance

NASDAQ TTD opened at $80.16 on Thursday. The company has a market capitalization of $39.56 billion, a PE ratio of 131.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a 52-week low of $73.68 and a 52-week high of $141.53. The company has a 50-day simple moving average of $120.93 and a 200 day simple moving average of $115.40.

Trade Desk (NASDAQ:TTD) last posted 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 return on equity of 13.17% and a net margin of 13.34%. As a group, analysts forecast that Trade Desk will post 0.87 EPS for the current fiscal year.

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

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the 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 owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % 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 worth $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Edgewood Management LLC increased its stake in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Norges Bank purchased a new stake in Trade Desk in the 4th quarter worth $524,187,000. Jennison Associates LLC raised its holdings in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Raymond James Financial Inc. bought a new position in shares of Trade Desk in the fourth quarter worth about $231,570,000. Finally, Baillie Gifford & Co. grew its position in shares of Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.