Trade Desk (NASDAQ:TTD) Price Target Cut to $101.00 by Analysts at Loop Capital

Trade Desk (NASDAQ:TTD) had its target price dropped by analysts at Loop Capital from $145.00 to $101.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Loop Capital’s price target would indicate a potential upside of 35.87% from the company’s current price.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets dropped their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Oppenheimer dropped their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Benchmark restated a “sell” rating and set a $57.00 target price on shares of Trade Desk in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $119.45.

Trade Desk Trading Down 3.1 %

Shares of TTD traded down $2.42 during trading hours on Thursday, reaching $74.34. The company had a trading volume of 7,671,922 shares, compared to its average volume of 6,889,366. The firm has a 50 day simple moving average of $117.64 and a 200-day simple moving average of $115.23. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 95.27, a PEG ratio of 3.28 and a beta of 1.45. Trade Desk has a 12-month low of $74.31 and a 12-month high of $141.53.

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%. Sell-side analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

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

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred 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 sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds and other institutional investors have recently made changes to their positions in TTD. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Trade Desk by 57.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,675 shares of the technology company’s stock worth $184,000 after buying an additional 614 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Trade Desk in the third quarter worth $218,000. Eastern Bank bought a new stake in shares of Trade Desk in the third quarter worth $415,000. International Assets Investment Management LLC increased its stake in shares of Trade Desk by 10,856.6% in the third quarter. International Assets Investment Management LLC now owns 1,572,820 shares of the technology company’s stock worth $172,460,000 after buying an additional 1,558,465 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of Trade Desk in the third quarter worth $240,000. Institutional investors 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.