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

Trade Desk (NASDAQ:TTD) had its target price reduced by equities research analysts at Loop Capital from $145.00 to $101.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Loop Capital’s price target would suggest a potential upside of 35.87% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Susquehanna reduced their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. JMP Securities reduced their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Finally, Wells Fargo & Company reduced their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $119.45.

Trade Desk Stock Performance

Shares of TTD traded down $2.42 during midday trading on Thursday, hitting $74.34. 7,671,922 shares of the stock traded hands, compared to its average volume of 6,889,366. Trade Desk has a 1-year low of $74.31 and a 1-year high of $141.53. The firm has a market capitalization of $36.69 billion, a PE ratio of 95.27, a price-to-earnings-growth ratio of 3.28 and a beta of 1.45. The business’s 50 day moving average price is $117.64 and its two-hundred day moving average price is $115.23.

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 16.08% and a return on equity of 16.38%. As a group, equities research analysts forecast that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its board has initiated a stock 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 buy up to 0.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction dated Tuesday, January 7th. The stock was 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 owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk in the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC grew its stake in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Trade Desk during the fourth quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. boosted its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after purchasing an additional 175 shares during the period. Hedge funds and other 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.