Cantor Fitzgerald Cuts Trade Desk (NASDAQ:TTD) Price Target to $100.00

Trade Desk (NASDAQ:TTD) had its price target trimmed by Cantor Fitzgerald from $115.00 to $100.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other analysts have also weighed in on TTD. Royal Bank of Canada lifted their price objective on shares of Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Scotiabank assumed coverage on shares of Trade Desk in a report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $145.00 price objective on shares of Trade Desk in a research report on Thursday. Robert W. Baird decreased their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Susquehanna cut their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Down 33.0 %

TTD stock opened at $81.92 on Thursday. The firm 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. The company’s fifty day simple moving average is $122.11 and its 200 day simple moving average is $115.31. Trade Desk has a 12-month low of $72.21 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 (EPS) 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%. Research analysts expect that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk declared that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock worth $5,004,296 in the last quarter. 9.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TTD. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC raised its position in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new stake in shares of Trade Desk during the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk in the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. grew its stake in Trade Desk by 148.3% in the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares in the last quarter. 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.