Trade Desk (NASDAQ:TTD) Upgraded at Benchmark

Trade Desk (NASDAQ:TTD) was upgraded by stock analysts at Benchmark from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday,Finviz reports.

Several other research analysts also recently weighed in on TTD. Susquehanna decreased their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, KeyCorp boosted their price target on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $64.98 on Friday. The firm has a fifty day moving average price of $106.24 and a two-hundred day moving average price of $113.67. Trade Desk has a one year low of $64.56 and a one year high of $141.53. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 EPS 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 expect that Trade Desk will post 1.06 EPS for the current fiscal year.

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

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % 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 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently made changes to their positions in the stock. Edgewood Management LLC raised its stake in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares during the last quarter. Norges Bank bought a new position in shares of Trade Desk during the 4th quarter valued at about $524,187,000. Brown Advisory Inc. lifted its holdings in shares of Trade Desk by 3,037.0% in the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after acquiring an additional 2,628,409 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Trade Desk by 11.0% in the 3rd 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Trade Desk in the 4th quarter worth about $231,570,000. 67.77% of the stock is owned by 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.