Trade Desk (NASDAQ:TTD) Given “Buy” Rating at Needham & Company LLC

Trade Desk (NASDAQ:TTD)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $145.00 target price on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 18.63% from the stock’s current price.

TTD has been the topic of a number of other reports. Wolfe Research raised their price target on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered Trade Desk from a “buy” rating to a “hold” rating in a report on Saturday, November 30th. Morgan Stanley dropped their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, UBS Group boosted their target price on shares of Trade Desk from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.10.

Trade Desk Price Performance

TTD stock opened at $122.23 on Thursday. The stock has a market capitalization of $60.33 billion, a P/E ratio of 200.38, a P/E/G ratio of 3.63 and a beta of 1.45. Trade Desk has a fifty-two week low of $71.11 and a fifty-two week high of $141.53. The business has a 50-day moving average of $123.20 and a 200-day moving average of $115.54.

Trade Desk (NASDAQ:TTD) last released 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 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are 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 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. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

A number of large investors have recently bought and sold shares of the business. MIG Capital LLC bought a new stake in shares of Trade Desk during the 4th quarter valued at about $312,000. Atika Capital Management LLC bought a new stake in Trade Desk in the fourth quarter worth approximately $6,029,000. Russell Investments Group Ltd. lifted its stake in Trade Desk by 83.1% in the fourth quarter. Russell Investments Group Ltd. now owns 499,602 shares of the technology company’s stock valued at $59,175,000 after buying an additional 226,773 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Trade Desk by 4.3% during the 4th quarter. Wedbush Securities Inc. now owns 21,363 shares of the technology company’s stock worth $2,511,000 after buying an additional 873 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Trade Desk by 16.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 877,984 shares of the technology company’s stock worth $103,189,000 after buying an additional 125,440 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.