Trade Desk (NASDAQ:TTD) Given New $145.00 Price Target at Robert W. Baird

Trade Desk (NASDAQ:TTD) had its target price cut by Robert W. Baird from $160.00 to $145.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

TTD has been the topic of several other research reports. Truist Financial increased their target price on Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. KeyCorp increased their price target on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, January 13th. DA Davidson increased their target price on shares of Trade Desk from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

Trade Desk Price Performance

Shares of TTD opened at $81.92 on Thursday. The firm has a 50-day simple moving average of $122.11 and a two-hundred day simple moving average of $115.31. The stock has a market cap of $40.43 billion, a PE ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $72.21 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last posted 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 13.34% and a return on equity of 13.17%. As a group, sell-side analysts expect that Trade Desk will post 0.87 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were 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 directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were 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. In the last three months, insiders sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC raised its stake in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds 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.