Robert W. Baird Lowers Trade Desk (NASDAQ:TTD) Price Target to $145.00

Trade Desk (NASDAQ:TTD) had its price objective lowered by Robert W. Baird from $160.00 to $145.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on TTD. Morgan Stanley increased their target price on shares of Trade Desk from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. UBS Group upped their target price on Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Price Performance

Trade Desk stock opened at $81.92 on Thursday. The stock’s 50 day moving average price is $122.11 and its 200 day moving average price is $115.31. The company has a market cap of $40.43 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $72.21 and a 1-year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing the consensus estimate 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 anticipate that Trade Desk will post 0.87 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the transaction, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently modified their holdings of TTD. Edgewood Management LLC lifted its position in Trade Desk by 133.3% during the third quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after buying an additional 5,675,571 shares in the last quarter. Norges Bank purchased a new position in shares of Trade Desk in the 4th quarter valued at $524,187,000. Jennison Associates LLC raised its stake in shares of Trade Desk by 11.0% in the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after acquiring an additional 2,013,047 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Trade Desk during the 4th quarter valued at $231,570,000. Finally, Baillie Gifford & Co. boosted its position in Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after purchasing an additional 1,720,650 shares during the period. Hedge funds and other institutional investors 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.