Trade Desk (NASDAQ:TTD) Price Target Cut to $74.00 by Analysts at KeyCorp

Trade Desk (NASDAQ:TTD) had its price objective lowered by stock analysts at KeyCorp from $130.00 to $74.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective suggests a potential upside of 35.32% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Scotiabank lowered their target price on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Morgan Stanley reduced their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Wells Fargo & Company reduced their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.10.

Trade Desk Trading Down 3.2 %

TTD opened at $54.68 on Tuesday. The stock has a market capitalization of $27.13 billion, a P/E ratio of 71.71, a P/E/G ratio of 3.11 and a beta of 1.63. The firm’s fifty day simple moving average is $96.38 and its 200 day simple moving average is $111.25. Trade Desk has a 12 month low of $53.42 and a 12 month high of $141.53.

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 the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, equities research analysts predict that Trade Desk will post 1.06 EPS for the current fiscal 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 outstanding 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 often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction dated 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 owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’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 completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last 90 days. 9.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Ithaka Group LLC boosted its stake in shares of Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock valued at $12,378,000 after purchasing an additional 4,836 shares in the last quarter. Lyell Wealth Management LP boosted its stake in shares of Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Trade Desk by 36.2% during the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Trade Desk by 3.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,109,380 shares of the technology company’s stock valued at $231,294,000 after purchasing an additional 68,206 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after purchasing an additional 51,603 shares in the last quarter. 67.77% of the stock is owned by institutional investors.

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.