Trade Desk’s (TTD) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Trade Desk (NASDAQ:TTD) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $110.00 price objective on the technology company’s stock, down from their previous price objective of $140.00.

A number of other research firms also recently issued reports on TTD. Wells Fargo & Company lifted their price objective on shares of Trade Desk from $141.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Cantor Fitzgerald dropped their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday. BTIG Research lifted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson dropped their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Finally, Wedbush lifted their price objective 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $119.77.

Trade Desk Trading Down 2.1 %

Shares of NASDAQ TTD opened at $80.16 on Thursday. The firm’s 50-day moving average price is $120.93 and its 200-day moving average price is $115.40. Trade Desk has a 1-year low of $73.68 and a 1-year high of $141.53. The firm has a market capitalization of $39.56 billion, a P/E ratio of 131.41, a P/E/G 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 analysts’ consensus estimates 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 declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 in the last three months. Corporate insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of the business. Focus Financial Network Inc. lifted its stake in Trade Desk by 2.2% during the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after acquiring an additional 84 shares during the period. CAP Partners LLC lifted its stake in shares of Trade Desk by 1.4% in the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after purchasing an additional 86 shares during the period. RMR Wealth Builders lifted its stake in shares of Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock valued at $1,247,000 after purchasing an additional 89 shares during the period. Quotient Wealth Partners LLC lifted its stake in shares of Trade Desk by 4.2% in the 4th quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after purchasing an additional 94 shares during the period. Finally, TFB Advisors LLC lifted its stake in shares of Trade Desk by 2.6% in the 4th quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after purchasing an additional 94 shares during the period. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.