Trade Desk (NASDAQ:TTD) Given New $67.00 Price Target at KeyCorp

Trade Desk (NASDAQ:TTD) had its price objective decreased by KeyCorp from $74.00 to $67.00 in a research note issued to investors on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other research firms have also commented on TTD. BMO Capital Markets reduced their price objective on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Oppenheimer decreased their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Morgan Stanley lowered their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Trade Desk has a consensus rating of “Moderate Buy” and an average target price of $114.14.

Trade Desk Stock Down 8.9 %

Trade Desk stock traded down $4.84 during mid-day trading on Wednesday, hitting $49.28. 5,206,344 shares of the company were exchanged, compared to its average volume of 5,102,251. The business has a fifty day moving average of $71.01 and a 200 day moving average of $104.49. Trade Desk has a 1-year low of $42.96 and a 1-year high of $141.53. The company has a market capitalization of $24.45 billion, a PE ratio of 63.20, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data 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 16.38% and a net margin of 16.08%. Research analysts expect that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm’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 sale, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Trade Desk during the fourth quarter worth approximately $524,187,000. Brown Advisory Inc. grew its position in shares of Trade Desk by 3,037.0% during the 4th quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock worth $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 4th quarter valued at $231,570,000. Franklin Resources Inc. lifted its position in shares of Trade Desk by 265.9% during the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after acquiring an additional 1,354,891 shares during the period. Finally, FMR LLC boosted its stake in Trade Desk by 44.8% during the fourth 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 in the last quarter. 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.