Trade Desk (NASDAQ:TTD) Upgraded at Cfra Research

Trade Desk (NASDAQ:TTD) was upgraded by Cfra Research to a “moderate buy” rating in a report released on Tuesday,Zacks.com reports.

TTD has been the subject of several other reports. DA Davidson reduced their price target on Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JMP Securities lowered their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Robert W. Baird reduced their price objective 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, February 13th. Finally, Citigroup dropped their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Performance

TTD stock opened at $57.26 on Tuesday. The firm has a 50-day simple moving average of $86.39 and a two-hundred day simple moving average of $108.61. Trade Desk has a one year low of $53.39 and a one year high of $141.53. The firm has a market cap of $28.41 billion, a price-to-earnings ratio of 73.41, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. As a group, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several hedge funds have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $34,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk in the 4th quarter valued at $34,000. Institutional investors and hedge funds 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.