Trade Desk (NASDAQ:TTD) Trading 3.8% Higher – What’s Next?

Shares of The Trade Desk, Inc. (NASDAQ:TTD) traded up 3.8% on Tuesday . The stock traded as high as $56.22 and last traded at $56.82. 2,101,697 shares were traded during mid-day trading, a decline of 56% from the average session volume of 4,781,920 shares. The stock had previously closed at $54.72.

Analysts Set New Price Targets

TTD has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Susquehanna decreased their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Thursday, February 13th. DA Davidson dropped their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their price target on Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a report on Monday. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

Trade Desk Stock Performance

The firm has a market capitalization of $28.35 billion, a P/E ratio of 73.36, a PEG ratio of 3.11 and a beta of 1.63. The firm has a 50 day simple moving average of $83.62 and a two-hundred day simple moving average of $108.07.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’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 completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Trade Desk

Several hedge funds have recently made changes to their positions in TTD. 111 Capital purchased a new stake in Trade Desk during the fourth quarter valued at about $562,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Trade Desk during the 4th quarter valued at approximately $17,176,000. Centaurus Financial Inc. lifted its stake in shares of Trade Desk by 84.2% during the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after buying an additional 2,965 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new position in Trade Desk in the 4th quarter worth approximately $591,000. Finally, Lighthouse Financial LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $3,536,000. 67.77% of the stock is currently owned by institutional investors.

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.