Trade Desk (NASDAQ:TTD) Upgraded by Cfra Research to “Moderate Buy” Rating

Trade Desk (NASDAQ:TTD) was upgraded by equities research analysts at Cfra Research to a “moderate buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. Oppenheimer lowered their target price on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. KeyCorp cut their price target on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley reduced their price target on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Susquehanna dropped their price objective on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group upped their target price on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Down 2.6 %

TTD stock opened at $57.26 on Tuesday. Trade Desk has a twelve month low of $53.39 and a twelve month high of $141.53. The company has a market cap of $28.41 billion, a P/E ratio of 73.41, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The business’s fifty day moving average is $86.39 and its 200-day moving average is $108.61.

Trade Desk (NASDAQ:TTD) last released its earnings results 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%. Research analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’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 sale, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Trade Desk

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Trade Desk in the 4th quarter valued at about $524,187,000. Brown Advisory Inc. boosted its stake in shares of Trade Desk by 3,037.0% in the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock valued at $319,089,000 after buying an additional 2,628,409 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Trade Desk in the fourth quarter valued at approximately $231,570,000. Franklin Resources Inc. grew its position in Trade Desk by 265.9% during the fourth quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock worth $219,121,000 after buying an additional 1,354,891 shares in the last quarter. Finally, FMR LLC increased its stake in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock worth $445,237,000 after acquiring an additional 1,172,082 shares during the period. 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.