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

Trade Desk (NASDAQ:TTD) had its price objective cut by Oppenheimer from $135.00 to $115.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on TTD. Truist Financial lowered their target price on Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday. Royal Bank of Canada decreased their price objective on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday. Scotiabank began coverage on shares of Trade Desk in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 target price on the stock. Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, UBS Group lifted their price target on shares of Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $121.20.

Trade Desk Stock Performance

NASDAQ:TTD opened at $81.92 on Thursday. Trade Desk has a 52 week low of $72.21 and a 52 week high of $141.53. The firm has a 50-day moving average price of $122.11 and a two-hundred day moving average price of $115.31. The firm has a market cap of $40.43 billion, a price-to-earnings ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

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

Trade Desk declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock worth $5,004,296 over the last ninety days. 9.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Trade Desk

A number of large investors have recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk in the 4th quarter worth about $26,000. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Trade Desk in the fourth quarter worth approximately $34,000. Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after acquiring an additional 175 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the fourth quarter worth approximately $35,000. Hedge funds and other 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.