Truist Financial Cuts Trade Desk (NASDAQ:TTD) Price Target to $130.00

Trade Desk (NASDAQ:TTD) had its price target cut by Truist Financial from $155.00 to $130.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

TTD has been the subject of a number of other reports. Scotiabank initiated coverage on shares of Trade Desk in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $133.00 price objective for the company. Robert W. Baird lowered 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 report on Thursday. StockNews.com lowered shares of Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Morgan Stanley reduced 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 note on Thursday. Finally, Royal Bank of Canada increased their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One equities research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Performance

Trade Desk stock opened at $81.92 on Thursday. The company has a market capitalization of $40.43 billion, a PE ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. The company has a 50 day moving average price of $122.11 and a 200-day moving average price of $115.31. Trade Desk has a fifty-two week low of $72.21 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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, analysts forecast that Trade Desk will post 0.87 earnings per share for the current year.

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

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 completion of the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction 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 approximately $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 sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. 9.72% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Trade Desk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after purchasing an additional 253,137 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Trade Desk by 4.7% in the 3rd 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 period. Jennison Associates LLC lifted 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 purchasing an additional 2,013,047 shares during the period. Edgewood Management LLC boosted its holdings 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 worth $1,089,280,000 after buying an additional 5,675,571 shares in the last quarter. Finally, Invesco Ltd. grew its position in Trade Desk by 2.6% during the fourth quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock valued at $930,477,000 after buying an additional 198,822 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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.