Trade Desk (NASDAQ:TTD) Given New $100.00 Price Target at Royal Bank of Canada

Trade Desk (NASDAQ:TTD) had its price objective cut by analysts at Royal Bank of Canada from $120.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 86.60% from the company’s current price.

TTD has been the topic of several other research reports. KeyCorp reduced their target price on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a report on Tuesday. BMO Capital Markets lowered their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Wells Fargo & Company reduced their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and lifted their price target for the company from $85.00 to $115.00 in a report on Monday, November 25th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Stock Down 5.2 %

TTD stock opened at $53.59 on Monday. The firm has a market cap of $26.59 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 3.11 and a beta of 1.63. Trade Desk has a 12-month low of $53.39 and a 12-month high of $141.53. The company’s fifty day simple moving average is $95.03 and its 200 day simple moving average is $110.89.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TTD. Investment Management Corp VA ADV acquired a new stake in shares of Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in shares of Trade Desk during the 4th quarter worth approximately $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 bought a new stake in shares of Trade Desk in the 4th quarter worth approximately $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $34,000. 67.77% of the stock is owned by institutional investors.

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.