Loop Capital Cuts Trade Desk (NASDAQ:TTD) Price Target to $101.00

Trade Desk (NASDAQ:TTD) had its target price trimmed by Loop Capital from $145.00 to $101.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley cut their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada dropped their price target on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Benchmark reiterated a “sell” rating and issued a $57.00 price objective on shares of Trade Desk in a report on Friday, November 8th. Cantor Fitzgerald decreased their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com cut shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Trading Down 4.8 %

Shares of Trade Desk stock opened at $72.06 on Thursday. The company has a fifty day moving average price of $115.27 and a 200 day moving average price of $115.09. Trade Desk has a twelve month low of $71.61 and a twelve month high of $141.53. The stock has a market cap of $35.57 billion, a price-to-earnings ratio of 92.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. Analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated 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 in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 over the last 90 days. 9.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TTD. Vanguard Group Inc. increased its stake in Trade Desk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Trade Desk by 4.7% during the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after purchasing an additional 1,720,650 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Trade Desk by 11.0% in the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Edgewood Management LLC increased its position in shares of Trade Desk by 133.3% in the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock worth $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Trade Desk by 2.6% in the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares during the last quarter. Institutional investors 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.