Trade Desk (NASDAQ:TTD) Price Target Lowered to $115.00 at Oppenheimer

Trade Desk (NASDAQ:TTD) had its target price lowered by equities researchers at Oppenheimer from $135.00 to $115.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 40.41% from the stock’s previous close.

Several other research firms also recently weighed in on TTD. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Macquarie increased their target price on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Citigroup boosted their price target on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.43.

Trade Desk Trading Down 33.0 %

NASDAQ:TTD traded down $40.33 during trading hours on Thursday, reaching $81.90. 32,899,968 shares of the company were exchanged, compared to its average volume of 4,946,304. The firm has a market cap of $40.42 billion, a PE ratio of 134.45, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a twelve month low of $72.21 and a twelve month high of $141.53. The stock’s 50-day moving average is $123.20 and its 200-day moving average is $115.54.

Trade Desk (NASDAQ:TTD) last released its 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 return on equity of 13.17% and a net margin of 13.34%. As a group, research analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

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

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently modified their holdings of TTD. Creative Planning lifted its holdings in Trade Desk by 10.6% during the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after buying an additional 12,384 shares during the last quarter. Swedbank AB raised its position in shares of Trade Desk by 22.6% during the 3rd quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after acquiring an additional 53,130 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Trade Desk by 12.1% during the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock worth $1,211,000 after purchasing an additional 1,193 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Trade Desk during the third quarter worth approximately $263,000. Finally, Paragon Capital Management Inc. acquired a new position in Trade Desk in the third quarter valued at approximately $811,000. 67.77% of the stock is owned by hedge funds and other 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.