Trade Desk (NASDAQ:TTD) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $145.00 target price on the technology company’s stock.

Several other research firms have also recently weighed in on TTD. Citigroup cut their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company 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 report on Thursday, February 13th. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Finally, Loop Capital cut their price objective on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Stock Up 0.1 %

Shares of Trade Desk stock opened at $53.94 on Thursday. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 69.15, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The company’s 50 day moving average is $97.79 and its 200 day moving average is $111.51. Trade Desk has a twelve month low of $53.42 and a twelve month high of $141.53.

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 the consensus estimate 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 expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated 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 directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction dated 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 owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk during the fourth quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC lifted its position in shares of Trade Desk by 68.8% during 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 during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. lifted its position in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.