Trade Desk (NASDAQ:TTD) Raised to “Moderate Buy” at Cfra Research

Trade Desk (NASDAQ:TTD) was upgraded by stock analysts at Cfra Research to a “moderate buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on TTD. UBS Group increased their target price on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Truist Financial cut their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. KeyCorp cut their price target on Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, Oppenheimer decreased their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Stock Down 2.6 %

TTD opened at $57.26 on Tuesday. Trade Desk has a 12-month low of $53.39 and a 12-month high of $141.53. The firm has a market capitalization of $28.41 billion, a P/E ratio of 73.41, a PEG ratio of 3.11 and a beta of 1.63. The stock has a fifty day moving average of $86.39 and a 200-day moving average of $108.61.

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 16.38% and a net margin of 16.08%. On average, analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently modified their holdings of TTD. Lyell Wealth Management LP raised its position in Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after acquiring an additional 358,350 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Trade Desk by 3.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after acquiring an additional 68,206 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Trade Desk by 276.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after acquiring an additional 51,603 shares during the last quarter. Finally, Independent Solutions Wealth Management LLC increased its position in Trade Desk by 21.0% in the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after purchasing an additional 11,181 shares during the period. 67.77% of the stock is currently 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.