DA Davidson Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective dropped by research analysts at DA Davidson from $134.00 to $103.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. DA Davidson’s price objective suggests a potential downside of 15.73% from the company’s current price.

Several other research firms have also recently commented on TTD. Oppenheimer increased their price target on Trade Desk from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a report on Friday, November 8th. BTIG Research upped their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wedbush raised their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Wolfe Research boosted their target price on shares of Trade Desk from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three 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 price target of $130.57.

Trade Desk Trading Up 1.7 %

Shares of TTD opened at $122.23 on Thursday. The firm has a market cap of $60.33 billion, a P/E ratio of 200.38, a PEG ratio of 3.63 and a beta of 1.45. Trade Desk has a 12 month low of $71.11 and a 12 month high of $141.53. The stock’s 50 day moving average is $123.20 and its two-hundred day moving average is $115.54.

Trade Desk (NASDAQ:TTD) last released its quarterly 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 return on equity of 13.17% and a net margin of 13.34%. Equities research analysts forecast that Trade Desk will post 0.87 EPS for the current year.

Trade Desk announced that its board has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % 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 over the last quarter. Corporate insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TTD. Rialto Wealth Management LLC acquired a new stake in Trade Desk in the 4th quarter valued at approximately $26,000. Harbor Investment Advisory LLC boosted 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 acquiring an additional 117 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk in the fourth quarter worth $34,000. Zions Bancorporation N.A. increased 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 acquiring an additional 175 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in Trade Desk during the 4th quarter valued at $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.