Wells Fargo & Company Cuts Trade Desk (NASDAQ:TTD) Price Target to $72.00

Trade Desk (NASDAQ:TTD) had its price target cut by Wells Fargo & Company from $101.00 to $72.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 43.77% from the stock’s previous close.

A number of other research firms have also weighed in on TTD. KeyCorp dropped their price objective on Trade Desk from $130.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Cantor Fitzgerald dropped their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. BMO Capital Markets lowered their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.38.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $6.22 during mid-day trading on Monday, hitting $50.08. The company had a trading volume of 8,976,584 shares, compared to its average volume of 9,204,094. Trade Desk has a one year low of $48.86 and a one year high of $141.53. The firm has a fifty day moving average price of $80.98 and a 200 day moving average price of $107.36. The company has a market capitalization of $24.84 billion, a PE ratio of 64.21, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (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%. Research analysts expect that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TTD. Focus Financial Network Inc. boosted its stake in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the period. RMR Wealth Builders grew its holdings in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares during the last quarter. Quotient Wealth Partners LLC increased its position in Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. TFB Advisors LLC raised its stake in Trade Desk by 2.6% during the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after acquiring an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC grew its stake in shares of Trade Desk by 2.6% in the 4th quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock valued at $443,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About Trade Desk

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.