Trade Desk (NASDAQ:TTD) Given New $130.00 Price Target at Truist Financial

Trade Desk (NASDAQ:TTD) had its target price decreased by Truist Financial from $155.00 to $130.00 in a report issued on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on TTD. Loop Capital boosted their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Macquarie boosted their price target on Trade Desk from $133.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and issued a $140.00 price target (up previously from $110.00) on shares of Trade Desk in a research report on Friday, November 8th. BMO Capital Markets lifted their price objective on Trade Desk from $125.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Finally, Citigroup increased their target price on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Trade Desk Stock Performance

TTD stock opened at $81.92 on Thursday. The company has a market cap of $40.43 billion, a price-to-earnings ratio of 134.30, a P/E/G ratio of 3.63 and a beta of 1.45. The business’s 50-day moving average is $122.11 and its two-hundred day moving average is $115.31. Trade Desk has a fifty-two week low of $72.21 and a fifty-two week high of $141.53.

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 13.17% and a net margin of 13.34%. Equities analysts predict that Trade Desk will post 0.87 earnings per share for the current year.

Trade Desk declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $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 available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the business’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 transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This 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 Investors Weigh In On Trade Desk

Institutional investors have recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Trade Desk during the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC boosted its position in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC bought a new position in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of Trade Desk in the fourth quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. lifted its stake in shares of Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

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.