Royal Bank of Canada Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price target dropped by research analysts at Royal Bank of Canada from $140.00 to $120.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price points to a potential upside of 49.70% from the company’s previous close.

TTD has been the subject of a number of other reports. Morgan Stanley cut their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday. KeyCorp increased their price target on Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company increased their price target on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and lowered their price target for the stock from $135.00 to $90.00 in a report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Stock Down 2.1 %

Shares of TTD opened at $80.16 on Thursday. Trade Desk has a 52-week low of $73.68 and a 52-week high of $141.53. The company has a market capitalization of $39.56 billion, a PE ratio of 131.41, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The stock has a fifty day simple moving average of $120.93 and a two-hundred day simple moving average of $115.22.

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

Trade Desk announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was 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. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last quarter. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning increased its position in Trade Desk by 10.6% during the third quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after buying an additional 12,384 shares during the period. Swedbank AB increased its position in Trade Desk by 22.6% during the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock worth $31,584,000 after buying an additional 53,130 shares during the period. Vontobel Holding Ltd. increased its position in Trade Desk by 12.1% during the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock worth $1,211,000 after buying an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Trade Desk during the third quarter worth approximately $263,000. Finally, Paragon Capital Management Inc. purchased a new position in shares of Trade Desk in the 3rd quarter valued at approximately $811,000. Institutional investors and hedge funds 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.