Trade Desk (NASDAQ:TTD) Stock Rating Upgraded by Benchmark

Trade Desk (NASDAQ:TTD) was upgraded by analysts at Benchmark from a “sell” rating to a “hold” rating in a report issued on Friday, MarketBeat.com reports.

Several other analysts also recently weighed in on TTD. Robert W. Baird reduced their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Oppenheimer reduced their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Morgan Stanley reduced their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Macquarie boosted their target price on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $64.91 on Friday. The company has a market capitalization of $32.20 billion, a price-to-earnings ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The business has a 50-day moving average of $103.94 and a two-hundred day moving average of $113.14. Trade Desk has a 1 year low of $63.82 and a 1 year high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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 16.38% and a net margin of 16.08%. As a group, equities research analysts expect that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’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 value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. 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. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Trade Desk by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,335 shares of the technology company’s stock valued at $256,000 after buying an additional 417 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Trade Desk by 4.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 9,222 shares of the technology company’s stock valued at $1,011,000 after buying an additional 434 shares in the last quarter. TFB Advisors LLC purchased a new stake in Trade Desk in the 3rd quarter valued at approximately $402,000. AIA Group Ltd lifted its stake in Trade Desk by 12.1% in the 3rd quarter. AIA Group Ltd now owns 50,305 shares of the technology company’s stock valued at $5,516,000 after buying an additional 5,449 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Trade Desk in the 3rd quarter valued at approximately $219,000. 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.