Trade Desk (NASDAQ:TTD) Price Target Lowered to $130.00 at Truist Financial

Trade Desk (NASDAQ:TTD) had its price objective dropped by stock analysts at Truist Financial from $155.00 to $130.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would suggest a potential upside of 54.27% from the stock’s previous close.

A number of other equities analysts also recently commented on TTD. Susquehanna decreased their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday. Citigroup raised their target price on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer upped their price target on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Robert W. Baird cut their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $135.00 to $90.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average price target of $129.73.

Trade Desk Stock Performance

Shares of TTD stock opened at $84.27 on Thursday. The stock has a market capitalization of $41.59 billion, a price-to-earnings ratio of 137.82, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a one year low of $72.21 and a one year high of $141.53. The company’s 50-day simple moving average is $123.20 and its 200-day simple 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 forecast that Trade Desk will post 0.87 EPS for the current year.

Trade Desk declared that its board has authorized a stock 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction 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 $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s 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 transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % 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 over the last quarter. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors have recently made changes to their positions in TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% in 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 acquired a new stake in Trade Desk during the fourth quarter worth $34,000. Midwest Capital Advisors LLC bought a new stake in Trade Desk in the 4th quarter valued at $34,000. Finally, Zions Bancorporation N.A. increased its holdings in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. 67.77% of the stock is currently owned by institutional investors.

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.