KeyCorp Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective dropped by equities researchers at KeyCorp from $130.00 to $74.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price would suggest a potential upside of 33.77% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley decreased their target price on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Macquarie lifted their target price on Trade Desk from $133.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Truist Financial decreased their price objective on Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Trade Desk in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Up 3.2 %

Shares of TTD opened at $55.32 on Tuesday. The company has a market cap of $27.44 billion, a PE ratio of 70.92, a P/E/G ratio of 3.11 and a beta of 1.63. The business has a fifty day moving average of $93.70 and a 200 day moving average of $110.50. Trade Desk has a 52-week low of $53.39 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results 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%. As a group, research analysts anticipate that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Trade Desk

In other news, insider Jay R. Grant sold 18,524 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Institutional Trading of Trade Desk

A number of hedge funds have recently modified their holdings of the stock. Investment Management Corp VA ADV acquired a new position in Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after buying an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the fourth quarter valued at $34,000. Finally, Zions Bancorporation N.A. grew its position in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock valued at $34,000 after buying an additional 175 shares during the period. Hedge funds and other 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.