BMO Capital Markets Lowers Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its price objective dropped by BMO Capital Markets from $160.00 to $115.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 43.46% from the stock’s current price.

Several other research firms also recently commented on TTD. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank started coverage on Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price target for the company. Wells Fargo & Company raised their price target on Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, January 13th. KeyCorp raised their price target on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, DA Davidson cut their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Trading Down 2.1 %

NASDAQ TTD opened at $80.16 on Thursday. The company has a market cap of $39.56 billion, a PE ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 12 month low of $73.68 and a 12 month high of $141.53. The stock has a 50 day moving average of $120.93 and a 200-day moving average of $115.22.

Trade Desk (NASDAQ:TTD) last released 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 13.34% and a return on equity of 13.17%. As a group, sell-side analysts predict that Trade Desk will post 0.87 EPS for the current fiscal year.

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

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 over the last 90 days. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Creative Planning lifted its stake in shares of Trade Desk by 10.6% in the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after acquiring an additional 12,384 shares during the period. Swedbank AB lifted its stake in shares of Trade Desk by 22.6% in the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after acquiring an additional 53,130 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Trade Desk by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock worth $1,211,000 after acquiring an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Trade Desk in the third quarter worth approximately $263,000. Finally, Paragon Capital Management Inc. acquired a new position in shares of Trade Desk in the third quarter worth approximately $811,000. 67.77% of the stock is owned by institutional investors and hedge funds.

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.