Oppenheimer Cuts Trade Desk (NASDAQ:TTD) Price Target to $115.00

Trade Desk (NASDAQ:TTD) had its price objective lowered by Oppenheimer from $135.00 to $115.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

TTD has been the subject of several other reports. DA Davidson decreased their target price on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company lifted their target price on Trade Desk from $141.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, January 13th. JMP Securities reduced their target price on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday. Truist Financial cut their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.77.

Trade Desk Stock Performance

Trade Desk stock opened at $80.16 on Thursday. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 52-week low of $73.68 and a 52-week high of $141.53. The stock’s 50 day moving average price is $120.93 and its two-hundred day moving average price is $115.40.

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%. On average, equities research analysts forecast that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction 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 directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Several institutional investors have recently modified their holdings of the business. Ithaka Group LLC lifted its holdings in Trade Desk by 4.5% in the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after acquiring an additional 4,836 shares during the period. Venture Visionary Partners LLC lifted its holdings in Trade Desk by 33.0% in the third quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock valued at $1,898,000 after acquiring an additional 4,296 shares during the period. Nordea Investment Management AB lifted its holdings in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after acquiring an additional 358,350 shares during the period. Assetmark Inc. lifted its holdings in Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after acquiring an additional 70,687 shares during the period. Finally, Swiss National Bank lifted its holdings in Trade Desk by 0.3% in the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock valued at $144,892,000 after acquiring an additional 4,500 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.