Trade Desk (NASDAQ:TTD) Price Target Lowered to $74.00 at KeyCorp

Trade Desk (NASDAQ:TTD) had its price objective decreased by research analysts at KeyCorp from $130.00 to $74.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price suggests a potential upside of 33.77% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. DA Davidson decreased their price objective on Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Citigroup dropped their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Morgan Stanley decreased their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Performance

Trade Desk stock opened at $55.32 on Tuesday. The company’s fifty day moving average price is $93.70 and its 200 day moving average price is $110.50. The stock has a market capitalization of $27.44 billion, a P/E ratio of 70.92, a P/E/G ratio of 3.11 and a beta of 1.63. Trade Desk has a 1 year low of $53.39 and a 1 year high of $141.53.

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

Trade Desk declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Jennison Associates LLC grew its stake in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after purchasing an additional 2,013,047 shares in the last quarter. Edgewood Management LLC grew its stake in Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares in the last quarter. Invesco Ltd. grew its stake in Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares in the last quarter. Finally, Norges Bank acquired a new position in Trade Desk during the 4th quarter worth $524,187,000. 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.