Trade Desk (NASDAQ:TTD) Price Target Cut to $100.00 by Analysts at Cantor Fitzgerald

Trade Desk (NASDAQ:TTD) had its price objective reduced by Cantor Fitzgerald from $115.00 to $100.00 in a report issued on Thursday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also commented on the stock. Stifel Nicolaus decreased their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Thursday. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up from $110.00) on shares of Trade Desk in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $121.20.

Trade Desk Stock Down 33.0 %

TTD opened at $81.92 on Thursday. Trade Desk has a 12-month low of $72.21 and a 12-month high of $141.53. The business has a 50 day moving average of $122.11 and a 200-day moving average of $115.31. The stock has a market cap of $40.43 billion, a price-to-earnings ratio of 134.30, a PEG ratio of 3.63 and a beta of 1.45.

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 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%. As a group, analysts expect that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk declared that its board has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was 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. The trade was a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction dated 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. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Creative Planning increased its position in Trade Desk by 10.6% in the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock valued at $14,211,000 after acquiring an additional 12,384 shares during the period. Swedbank AB increased its holdings in Trade Desk by 22.6% in the third quarter. Swedbank AB now owns 288,041 shares of the technology company’s stock valued at $31,584,000 after purchasing an additional 53,130 shares during the period. Vontobel Holding Ltd. increased its holdings in Trade Desk by 12.1% in the third quarter. Vontobel Holding Ltd. now owns 11,046 shares of the technology company’s stock valued at $1,211,000 after purchasing an additional 1,193 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Trade Desk during the 3rd quarter worth $263,000. Finally, Paragon Capital Management Inc. acquired a new position in Trade Desk during the 3rd quarter worth about $811,000. Institutional investors own 67.77% of the company’s stock.

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.