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

Needham & Company LLC reiterated their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research note released on Thursday,Benzinga reports. The brokerage currently has a $145.00 price objective on the technology company’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Scotiabank started coverage on shares of Trade Desk in a research report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 target price for the company. Morgan Stanley lowered their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday. BTIG Research increased their price objective on Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on Trade Desk from $136.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One 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 given a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $121.20.

Trade Desk Price Performance

TTD opened at $81.92 on Thursday. Trade Desk has a 1 year low of $72.21 and a 1 year high of $141.53. The company has a market capitalization of $40.43 billion, a price-to-earnings ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. The firm’s fifty day moving average price is $122.11 and its two-hundred day moving average price is $115.31.

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 net margin of 13.34% and a return on equity of 13.17%. As a group, equities analysts anticipate that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focus Financial Network Inc. increased its holdings in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after buying an additional 84 shares in the last quarter. CAP Partners LLC boosted its holdings in shares of Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after acquiring an additional 86 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Trade Desk by 0.8% during the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after acquiring an additional 89 shares during the last quarter. Quotient Wealth Partners LLC grew its stake in shares of Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC raised its holdings in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Company Profile

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.