Cantor Fitzgerald Cuts Trade Desk (NASDAQ:TTD) Price Target to $100.00

Trade Desk (NASDAQ:TTD) had its price target decreased by Cantor Fitzgerald from $115.00 to $100.00 in a report released on Thursday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on TTD. Oppenheimer increased their target price on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities initiated coverage on shares of Trade Desk in a report on Tuesday, January 21st. They issued a “mkt outperform” rating and a $150.00 target price on the stock. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. UBS Group raised their price target on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.77.

Trade Desk Stock Performance

Shares of TTD stock opened at $80.16 on Thursday. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a one year low of $73.68 and a one year high of $141.53. The company’s 50-day simple moving average is $120.93 and its 200-day simple moving average is $115.40.

Trade Desk (NASDAQ:TTD) last released its earnings results 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%. As a group, research analysts forecast that Trade Desk will post 0.87 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently modified their holdings of the business. Meiji Yasuda Life Insurance Co purchased a new stake in Trade Desk in the 4th quarter worth about $670,000. Blue Rock Wealth Management LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at about $705,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Trade Desk by 20.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 65,937 shares of the technology company’s stock worth $7,750,000 after purchasing an additional 11,037 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Trade Desk by 1,016.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 793 shares of the technology company’s stock worth $93,000 after purchasing an additional 722 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Trade Desk by 90.7% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 178,209 shares of the technology company’s stock valued at $20,945,000 after purchasing an additional 84,767 shares in the last quarter. 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.