Trade Desk’s (TTD) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research note published on Friday morning,Benzinga reports. They currently have a $145.00 price objective on the technology company’s stock.

Other research analysts have also recently issued research reports about the stock. DA Davidson reduced their target price on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wolfe Research raised their target price on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Scotiabank reduced their target price on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada reduced their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday. Six research analysts have rated the stock with 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Trading Down 0.1 %

NASDAQ:TTD opened at $64.91 on Friday. Trade Desk has a 12 month low of $63.82 and a 12 month high of $141.53. The firm has a fifty day simple moving average of $105.07 and a 200-day simple moving average of $113.33. The company has a market capitalization of $32.20 billion, a P/E ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted 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 16.38% and a net margin of 16.08%. Equities analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Trade Desk announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % 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 90 days. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently bought and sold shares of TTD. Edgewood Management LLC boosted its position 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 acquiring an additional 5,675,571 shares during the last quarter. Norges Bank acquired a new position in Trade Desk in the 4th quarter valued at about $524,187,000. Brown Advisory Inc. boosted its holdings in Trade Desk by 3,037.0% in the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after purchasing an additional 2,628,409 shares during the last quarter. Jennison Associates LLC boosted its holdings in 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in Trade Desk in the 4th quarter valued at about $231,570,000. 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.