Morgan Stanley Cuts Trade Desk (NASDAQ:TTD) Price Target to $132.00

Trade Desk (NASDAQ:TTD) had its target price trimmed by Morgan Stanley from $145.00 to $132.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research firms have also weighed in on TTD. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Wedbush raised their target price on Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Robert W. Baird cut their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday. Citigroup increased their price target on Trade Desk from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Truist Financial lifted their price objective on Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $119.77.

Trade Desk Stock Down 2.1 %

Shares of TTD stock opened at $80.16 on Thursday. The business has a fifty day simple moving average of $120.93 and a 200 day simple moving average of $115.40. The company has a market cap 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 has a twelve month low of $73.68 and a twelve month high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Trade Desk will post 0.87 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the transaction, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’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 completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 in the last three months. 9.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently added to or reduced their stakes in TTD. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC raised its holdings in shares of Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC bought a new position in Trade Desk during the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. increased its position in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying 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.