Trade Desk’s (TTD) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Trade Desk (NASDAQ:TTD) in a research report report published on Thursday,Benzinga reports. Piper Sandler currently has a $110.00 price target on the technology company’s stock, down from their previous price target of $140.00.

Several other research firms have also issued reports on TTD. Wells Fargo & Company increased their target price on Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Scotiabank began coverage on shares of Trade Desk in a research report on Thursday, December 5th. They set a “sector perform” rating and a $133.00 price target on the stock. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $85.00 to $115.00 in a report on Monday, November 25th. Wedbush increased their target price on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Stifel Nicolaus decreased their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Performance

Trade Desk stock opened at $81.92 on Thursday. The company’s 50 day simple moving average is $122.11 and its 200-day simple moving average is $115.31. 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 price-to-earnings-growth ratio of 3.63 and a beta of 1.45.

Trade Desk (NASDAQ:TTD) last posted 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 13.34% and a return on equity of 13.17%. Equities analysts expect that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,029 shares of company stock valued at $5,004,296 in the last three months. 9.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Trade Desk

A number of institutional investors and hedge funds have recently made changes to their positions in TTD. Ithaka Group LLC grew its holdings in shares of Trade Desk by 4.5% during the third quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after buying an additional 4,836 shares during the last quarter. Venture Visionary Partners LLC lifted its position in Trade Desk by 33.0% during the 3rd quarter. Venture Visionary Partners LLC now owns 17,308 shares of the technology company’s stock worth $1,898,000 after acquiring an additional 4,296 shares during the period. Nordea Investment Management AB grew its stake in shares of Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Trade Desk by 2,461.2% in the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after purchasing an additional 70,687 shares during the period. Finally, Swiss National Bank raised its stake in shares of Trade Desk by 0.3% during the third quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after purchasing an additional 4,500 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.