Trade Desk (NASDAQ:TTD) Given New $115.00 Price Target at Oppenheimer

Trade Desk (NASDAQ:TTD) had its price objective trimmed by Oppenheimer from $135.00 to $115.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research firms have also weighed in on TTD. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 price objective (down from $140.00) on shares of Trade Desk in a research note on Thursday. Loop Capital raised their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird lowered their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday. JMP Securities dropped their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday. Finally, Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Down 33.0 %

TTD stock opened at $81.92 on Thursday. The company’s 50-day moving average price is $122.11 and its two-hundred day moving average price is $115.31. The firm has a market cap of $40.43 billion, a P/E ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. Trade Desk has a 12 month low of $72.21 and a 12 month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. Equities analysts predict that Trade Desk will post 0.87 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction 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 completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. 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. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Financial Network Inc. increased its position in shares of Trade Desk by 2.2% during the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after acquiring an additional 84 shares in the last quarter. CAP Partners LLC lifted its position in Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares in the last quarter. RMR Wealth Builders boosted its stake in Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares during the last quarter. Quotient Wealth Partners LLC increased its holdings in Trade Desk by 4.2% during the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. Finally, TFB Advisors LLC raised its stake in shares of Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

About Trade Desk

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.