Trade Desk (NASDAQ:TTD) Rating Lowered to Inline at Evercore ISI

Trade Desk (NASDAQ:TTD) was downgraded by stock analysts at Evercore ISI from an “outperform” rating to an “inline” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They presently have a $90.00 target price on the technology company’s stock, down from their prior target price of $135.00. Evercore ISI’s price target points to a potential downside of 26.37% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price objective on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. KeyCorp upped their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday. Loop Capital boosted their price target on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, November 11th. UBS Group upped their price target on Trade Desk from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on Trade Desk from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.70.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $122.23 on Thursday. The stock has a market capitalization of $60.33 billion, a P/E ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 1-year low of $71.11 and a 1-year high of $141.53. The business’s 50 day moving average is $123.20 and its two-hundred day moving average is $115.54.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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, equities research 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 authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTD. Edgewood Management LLC raised its holdings in Trade Desk by 133.3% in the 3rd 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 during the period. Norges Bank purchased a new stake in Trade Desk during the 4th quarter worth approximately $524,187,000. Jennison Associates LLC lifted its holdings in Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock worth $2,228,172,000 after buying an additional 2,013,047 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Trade Desk in the 4th quarter valued at approximately $231,570,000. Finally, Baillie Gifford & Co. raised its stake in shares of Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock valued at $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.