Stock Repurchase Plan Authorized by Trade Desk (NASDAQ:TTD) Board

Trade Desk (NASDAQ:TTD) declared that its board has authorized a share repurchase program on Wednesday, February 12th, RTT News reports. The company plans to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Trade Desk Trading Up 1.7 %

Shares of TTD stock opened at $122.23 on Thursday. The stock has a market cap of $60.33 billion, a P/E ratio of 200.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a 1 year low of $71.11 and a 1 year high of $141.53. The stock has a 50 day simple moving average of $123.20 and a 200 day simple moving average of $115.54.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. Analysts forecast that Trade Desk will post 0.87 EPS for the current year.

Analyst Ratings Changes

TTD has been the topic of a number of research reports. Oppenheimer boosted their price objective on shares of Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler restated an “overweight” rating and issued a $140.00 price objective (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. Morgan Stanley increased their price target on Trade Desk from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Robert W. Baird boosted their price target on Trade Desk from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Citizens Jmp raised Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.20.

Insider Buying and Selling

In other Trade Desk news, 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 value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction 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 transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% 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.