Trade Desk (NASDAQ:TTD) Price Target Lowered to $101.00 at Loop Capital

Trade Desk (NASDAQ:TTD) had its price target decreased by Loop Capital from $145.00 to $101.00 in a research note published on Thursday morning,Benzinga reports. Loop Capital currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also issued reports on TTD. Scotiabank lowered their price target on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. BMO Capital Markets lowered their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial reduced their price target on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Stock Performance

Shares of TTD stock opened at $75.73 on Thursday. The stock’s 50-day moving average is $116.48 and its two-hundred day moving average is $114.96. The firm has a market cap of $37.38 billion, a price-to-earnings ratio of 97.09, a PEG ratio of 3.28 and a beta of 1.45. Trade Desk has a 1 year low of $74.10 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. As a group, research analysts predict that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last ninety days. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in Trade Desk in the 4th quarter worth $25,000. Rialto Wealth Management LLC acquired a new position in Trade Desk in the 4th quarter worth $26,000. Harbor Investment Advisory LLC lifted its holdings in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter worth $34,000. Finally, Zions Bancorporation N.A. raised its stake in shares of Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after purchasing an additional 175 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other 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.