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

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

A number of other research firms have also commented on TTD. Benchmark reaffirmed a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. BTIG Research raised their target price on Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Loop Capital upped their price target on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley lowered their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday. One equities research 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. According to MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $81.92 on Thursday. The stock has a market capitalization 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 52-week low of $72.21 and a 52-week high of $141.53. The stock’s 50-day simple moving average is $122.11 and its 200 day simple moving average is $115.31.

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

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

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. Ithaka Group LLC raised its stake in shares of Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after purchasing an additional 4,296 shares during the period. Nordea Investment Management AB raised its position in Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares during the last quarter. Assetmark Inc. lifted its holdings in Trade Desk by 2,461.2% in the 3rd quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock worth $8,066,000 after buying an additional 70,687 shares during the period. Finally, Swiss National Bank lifted its holdings in Trade Desk by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares during the period. 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.