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

The Trade Desk, Inc. (NASDAQ:TTD) has been given a consensus recommendation of “Moderate Buy” by the twenty-nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, twenty-three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $119.45.

Several brokerages have commented on TTD. Susquehanna decreased their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday, February 13th. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Royal Bank of Canada decreased their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in Trade Desk during the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. lifted its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Down 2.3 %

Shares of TTD stock opened at $64.98 on Friday. The stock has a market cap of $32.24 billion, a P/E ratio of 83.31, a PEG ratio of 3.11 and a beta of 1.45. Trade Desk has a 52 week low of $64.56 and a 52 week high of $141.53. The company’s fifty day simple moving average is $106.24 and its two-hundred day simple moving average is $113.67.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results 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 return on equity of 16.38% and a net margin of 16.08%. On average, analysts anticipate that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback 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 generally a sign that the company’s board of directors believes its shares are 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.