Royal Bank of Canada Cuts Trade Desk (NASDAQ:TTD) Price Target to $100.00

Trade Desk (NASDAQ:TTD) had its price objective cut by Royal Bank of Canada from $120.00 to $100.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

TTD has been the topic of a number of other reports. Macquarie boosted their price objective on shares of Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Loop Capital decreased their target price on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, JMP Securities reduced their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Price Performance

TTD stock opened at $55.32 on Monday. Trade Desk has a 52-week low of $53.39 and a 52-week high of $141.53. The company’s 50 day simple moving average is $93.70 and its 200-day simple moving average is $110.50. The firm has a market capitalization of $27.44 billion, a P/E ratio of 70.92, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released 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 net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts predict that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced 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 purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction 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 completion of 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 over the last ninety days. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TTD. Investment Management Corp VA ADV acquired a new stake in Trade Desk during the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC boosted its holdings in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Trade Desk during the 4th quarter worth approximately $34,000. 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.