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

Trade Desk (NASDAQ:TTD) had its price objective reduced by Stifel Nicolaus from $144.00 to $122.00 in a research note issued to investors on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other research firms have also commented on TTD. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the company from $85.00 to $115.00 in a research note on Monday, November 25th. JMP Securities started coverage on shares of Trade Desk in a research report on Tuesday, January 21st. They set a “mkt outperform” rating and a $150.00 price objective for the company. UBS Group lifted their target price on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Trade Desk Stock Performance

Shares of NASDAQ TTD opened at $81.92 on Thursday. The stock has a market cap of $40.43 billion, a P/E ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The firm has a 50 day moving average price of $122.11 and a two-hundred day moving average price of $115.31. Trade Desk has a 52-week low of $72.21 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. Analysts predict that Trade Desk will post 0.87 earnings per share for the current fiscal year.

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

Insider Activity at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was 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 over the last 90 days. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the 4th quarter worth $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other 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.