Trade Desk (NASDAQ:TTD) Raised to Moderate Buy at Cfra Research

Cfra Research upgraded shares of Trade Desk (NASDAQ:TTD) to a moderate buy rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price target (down from $140.00) on shares of Trade Desk in a research note on Thursday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a research report on Thursday, March 13th. KeyCorp dropped their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. BMO Capital Markets decreased their price objective on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and increased their target price for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Stock Down 2.6 %

TTD stock opened at $57.26 on Tuesday. The stock’s 50 day moving average is $86.39 and its two-hundred day moving average is $108.61. Trade Desk has a 52-week low of $53.39 and a 52-week high of $141.53. The company has a market capitalization of $28.41 billion, a PE ratio of 73.41, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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 return on equity of 16.38% and a net margin of 16.08%. As a group, sell-side analysts anticipate that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % 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. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV bought a new position in shares of Trade Desk in the fourth quarter valued at $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the 4th quarter worth $26,000. Harbor Investment Advisory LLC raised its position 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 period. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the fourth quarter valued at $34,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $34,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.