Trade Desk’s (TTD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a report published on Thursday,Benzinga reports. The firm currently has a $145.00 price objective on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price target on Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Loop Capital boosted their target price on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Citigroup boosted their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer raised their target price on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued 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 data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $121.20.

Trade Desk Stock Down 33.0 %

NASDAQ TTD opened at $81.92 on Thursday. The firm has a 50-day moving average price of $122.11 and a two-hundred day moving average price of $115.31. Trade Desk has a 12-month low of $72.21 and a 12-month high of $141.53. The company has a market capitalization of $40.43 billion, a P/E ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45.

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 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%. Equities analysts expect that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were 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 directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after acquiring an additional 253,137 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Trade Desk by 4.7% in the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares in the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC increased its stake in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after buying an additional 198,822 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.