Trade Desk (NASDAQ:TTD) Lowered to Inline Rating by Evercore ISI

Evercore ISI cut shares of Trade Desk (NASDAQ:TTD) from an outperform rating to an inline rating in a report released on Thursday, MarketBeat reports. They currently have $90.00 price objective on the technology company’s stock, down from their prior price objective of $135.00.

A number of other research analysts have also recently issued reports on TTD. Royal Bank of Canada boosted their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Loop Capital boosted their target price on Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Macquarie boosted their target price on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, UBS Group boosted their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

Trade Desk Stock Down 33.0 %

Shares of Trade Desk stock opened at $81.92 on Thursday. Trade Desk has a 12 month low of $72.21 and a 12 month high of $141.53. The business has a fifty day simple moving average of $122.11 and a 200 day simple moving average of $115.31. The stock has a market cap 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 announced its quarterly earnings data 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%. Analysts expect that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction 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 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 value of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares in the company, 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 have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently made changes to their positions in TTD. Creative Planning increased its stake in shares of Trade Desk by 10.6% during the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after purchasing an additional 12,384 shares during the period. Swedbank AB increased its stake in shares of Trade Desk by 22.6% during the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after purchasing an additional 53,130 shares during the period. Vontobel Holding Ltd. increased its stake in shares of 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 period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Trade Desk during the third quarter worth approximately $263,000. Finally, Paragon Capital Management Inc. bought a new position in shares of Trade Desk during the third quarter worth approximately $811,000. 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.