Loop Capital Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price lowered by stock analysts at Loop Capital from $145.00 to $101.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Loop Capital’s price objective would indicate a potential upside of 40.16% from the stock’s current price.

A number of other analysts have also commented on the stock. Benchmark restated a “sell” rating and set a $57.00 price target on shares of Trade Desk in a research note on Friday, November 8th. BTIG Research boosted their price target on shares of Trade Desk from $114.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and boosted their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Wedbush lifted their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, KeyCorp lifted their price objective on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Down 4.8 %

NASDAQ:TTD opened at $72.06 on Thursday. The firm has a market capitalization of $35.57 billion, a P/E ratio of 92.38, a P/E/G ratio of 3.15 and a beta of 1.45. The company has a fifty day moving average of $115.27 and a 200-day moving average of $114.88. Trade Desk has a twelve month low of $71.61 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 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. On average, analysts anticipate that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a share 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 repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated 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 owns 90,709 shares in the company, 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. In the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Company insiders own 9.72% of the company’s stock.

Institutional Investors Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Management Corp VA ADV bought a new stake in shares of Trade Desk during the fourth quarter valued at about $25,000. Rialto Wealth Management LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC increased 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. Midwest Capital Advisors LLC bought a new position in shares of Trade Desk in the fourth quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. increased its position in shares of 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 purchasing an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.