The Trade Desk, Inc. (NASDAQ:TTD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of The Trade Desk, Inc. (NASDAQ:TTD) have received an average rating of “Moderate Buy” from the twenty-nine brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $115.41.

TTD has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Wolfe Research upped their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Truist Financial cut their target price 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. Morgan Stanley dropped 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, Wedbush lifted their price objective on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was 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 approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the transaction, 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. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TTD. Lyell Wealth Management LP grew its stake in shares of Trade Desk by 24.3% in the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB lifted its position in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock worth $159,132,000 after buying an additional 358,350 shares during the period. Assenagon Asset Management S.A. boosted its stake in Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after buying an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC raised its stake in Trade Desk by 21.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after acquiring an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Trade Desk during the fourth quarter valued at $985,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Price Performance

TTD stock opened at $54.72 on Tuesday. The firm has a market capitalization of $27.15 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.11 and a beta of 1.63. Trade Desk has a 52-week low of $52.90 and a 52-week high of $141.53. The company’s 50 day simple moving average is $83.62 and its 200-day simple moving average is $108.07.

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 fiscal year.

Trade Desk declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.