Wells Fargo & Company Lowers Trade Desk (NASDAQ:TTD) Price Target to $101.00

Trade Desk (NASDAQ:TTD) had its price target reduced by research analysts at Wells Fargo & Company from $142.00 to $101.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 26.00% from the company’s previous close.

Several other research firms have also recently weighed in on TTD. KeyCorp increased their price target on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Scotiabank dropped their price target on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday. Robert W. Baird dropped their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday. Morgan Stanley lowered their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada lowered their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday. One equities research 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 given a strong buy rating to the stock. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $119.77.

Trade Desk Trading Down 2.1 %

Shares of NASDAQ TTD opened at $80.16 on Friday. Trade Desk has a 12-month low of $73.68 and a 12-month high of $141.53. The stock has a market cap of $39.56 billion, a PE ratio of 131.41, a P/E/G ratio of 3.63 and a beta of 1.45. The company has a 50-day moving average of $120.93 and a 200 day moving average of $115.40.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, sell-side analysts forecast that Trade Desk will post 0.87 EPS for the current fiscal year.

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

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of Trade Desk 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 sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in Trade Desk by 10.6% during the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after purchasing an additional 12,384 shares during the last quarter. Vontobel Holding Ltd. grew its position in Trade Desk by 12.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock worth $1,211,000 after purchasing an additional 1,193 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Trade Desk during the 3rd quarter worth $263,000. Optimum Investment Advisors boosted its holdings in shares of Trade Desk by 3.7% in the third quarter. Optimum Investment Advisors now owns 13,870 shares of the technology company’s stock valued at $1,521,000 after acquiring an additional 500 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Trade Desk by 1.5% in the third quarter. Bleakley Financial Group LLC now owns 29,933 shares of the technology company’s stock valued at $3,282,000 after acquiring an additional 445 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.