Trade Desk (NASDAQ:TTD) Given New $72.00 Price Target at Wells Fargo & Company

Trade Desk (NASDAQ:TTD) had its target price lowered by Wells Fargo & Company from $101.00 to $72.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 32.80% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Susquehanna cut their price target on shares of Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 13th. Scotiabank cut their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada decreased their target price on Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Piper Sandler reiterated an “overweight” rating and issued a $110.00 price objective (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Finally, Robert W. Baird dropped their price target on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and a consensus target price of $115.41.

Trade Desk Stock Performance

NASDAQ TTD traded down $1.63 during trading on Monday, hitting $54.22. The stock had a trading volume of 4,228,250 shares, compared to its average volume of 4,775,648. Trade Desk has a 12 month low of $52.99 and a 12 month high of $141.53. The company’s 50-day moving average price is $85.01 and its two-hundred day moving average price is $108.42. The company has a market capitalization of $26.90 billion, a PE ratio of 69.56, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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 16.08% and a return on equity of 16.38%. As a group, equities 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 reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares in the company, valued at approximately $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TTD. 111 Capital purchased a new stake in Trade Desk during the 4th quarter valued at about $562,000. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Trade Desk during the 4th quarter valued at $17,176,000. Centaurus Financial Inc. raised its position in Trade Desk by 84.2% during the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company’s stock valued at $762,000 after purchasing an additional 2,965 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of Trade Desk during the fourth quarter valued at about $591,000. Finally, Lighthouse Financial LLC purchased a new stake in Trade Desk in the fourth quarter worth $3,536,000. 67.77% of the stock is owned by 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.