Royal Bank of Canada Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective decreased by equities researchers at Royal Bank of Canada from $140.00 to $120.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 46.51% from the stock’s previous close.

A number of other equities analysts have also commented on the company. KeyCorp increased their price target on Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and increased their target price for the company from $85.00 to $115.00 in a research report on Monday, November 25th. JMP Securities cut their target price 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. BTIG Research upped their price target on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.43.

Trade Desk Stock Down 33.0 %

TTD stock traded down $40.33 during midday trading on Thursday, hitting $81.90. The company’s stock had a trading volume of 32,899,968 shares, compared to its average volume of 4,946,304. The firm has a market capitalization of $40.42 billion, a price-to-earnings ratio of 134.45, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. Trade Desk has a 12 month low of $72.21 and a 12 month high of $141.53. The company has a 50 day moving average of $123.20 and a two-hundred day moving average of $115.54.

Trade Desk (NASDAQ:TTD) last posted its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. On average, analysts anticipate that Trade Desk will post 0.87 earnings per share for the current fiscal year.

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

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

A number of hedge funds have recently made changes to their positions in TTD. Azimuth Capital Investment Management LLC raised its holdings in Trade Desk by 1.7% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 104,816 shares of the technology company’s stock worth $12,319,000 after purchasing an additional 1,721 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Trade Desk by 4.1% in the 4th quarter. Advisory Services Network LLC now owns 66,993 shares of the technology company’s stock worth $7,874,000 after buying an additional 2,613 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Trade Desk by 36.5% during the 4th quarter. Renaissance Technologies LLC now owns 719,300 shares of the technology company’s stock worth $84,539,000 after acquiring an additional 192,500 shares in the last quarter. Bank of Nova Scotia lifted its position in Trade Desk by 1,112.2% during the fourth quarter. Bank of Nova Scotia now owns 84,989 shares of the technology company’s stock valued at $9,989,000 after acquiring an additional 77,978 shares during the last quarter. Finally, Shelton Capital Management boosted its stake in Trade Desk by 37.3% in the fourth quarter. Shelton Capital Management now owns 73,608 shares of the technology company’s stock valued at $8,651,000 after acquiring an additional 20,000 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

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.