Trade Desk (NASDAQ:TTD) Price Target Lowered to $75.00 at Jefferies Financial Group

Trade Desk (NASDAQ:TTD) had its price target decreased by Jefferies Financial Group from $120.00 to $75.00 in a report released on Wednesday, MarketBeat Ratings reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Several other analysts have also weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. JMP Securities cut their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Finally, Cantor Fitzgerald lowered their price objective on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.38.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $56.30 on Wednesday. The firm has a market cap of $27.93 billion, a PE ratio of 72.18, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. Trade Desk has a 1 year low of $52.36 and a 1 year high of $141.53. The firm’s 50-day simple moving average is $80.98 and its 200-day simple moving average is $107.36.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data 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%. On average, equities analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related 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 value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Large investors have recently made changes to their positions in the company. Lyell Wealth Management LP raised its stake in Trade Desk by 24.3% during the 4th quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB grew its holdings in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after buying an additional 358,350 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after buying an additional 51,603 shares during the period. Independent Solutions Wealth Management LLC lifted its stake in Trade Desk by 21.0% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after acquiring an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Trade Desk during the 4th quarter worth about $985,000. Institutional investors and hedge funds 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.