Trade Desk (NASDAQ:TTD) Given New $120.00 Price Target at Royal Bank of Canada

Trade Desk (NASDAQ:TTD) had its price target lowered by Royal Bank of Canada from $140.00 to $120.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Loop Capital lifted their price objective on Trade Desk from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Robert W. Baird dropped their target price on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, JMP Securities decreased their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $81.92 on Thursday. The company has a 50-day simple moving average of $122.11 and a two-hundred day simple moving average of $115.31. Trade Desk has a 52-week low of $72.21 and a 52-week high of $141.53. The stock has a market capitalization of $40.43 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. As a group, 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 authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last 90 days. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after buying an additional 253,137 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after acquiring an additional 5,675,571 shares during the period. Finally, Invesco Ltd. boosted its stake in Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after purchasing an additional 198,822 shares during the period. Institutional investors and hedge funds 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.