Stock Repurchase Plan Authorized by Trade Desk (NASDAQ:TTD) Board

Trade Desk (NASDAQ:TTD) declared that its board has authorized a stock buyback program on Wednesday, February 12th, RTT News reports. The company plans to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citizens Jmp upgraded Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their target price for the company from $85.00 to $115.00 in a research report on Monday, November 25th. JMP Securities started coverage on shares of Trade Desk in a report on Tuesday, January 21st. They issued a “mkt outperform” rating and a $150.00 price target for the company. BTIG Research increased their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, DA Davidson boosted their target price on Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.20.

Trade Desk Price Performance

Shares of NASDAQ TTD opened at $122.23 on Thursday. The stock has a market capitalization of $60.33 billion, a PE ratio of 200.38, a P/E/G ratio of 3.63 and a beta of 1.45. Trade Desk has a one year low of $71.11 and a one year high of $141.53. The business’s fifty day moving average price is $123.20 and its 200-day moving average price is $115.54.

Trade Desk (NASDAQ:TTD) last issued 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%. As a group, equities analysts expect that Trade Desk will post 0.87 EPS for the current fiscal year.

Insider Activity at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% of the company’s stock.

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.