Jefferies Financial Group Issues Pessimistic Forecast for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its target price reduced by investment analysts at Jefferies Financial Group from $120.00 to $75.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 52.81% from the stock’s previous close.

Several other brokerages have also commented on TTD. Loop Capital decreased their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Susquehanna decreased their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 13th. Morgan Stanley dropped their price target on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. DA Davidson decreased their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Citigroup dropped their target price on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Trade Desk presently has an average rating of “Moderate Buy” and an average price target of $114.38.

Trade Desk Price Performance

TTD opened at $49.08 on Wednesday. The firm has a market capitalization of $24.35 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The business’s 50-day moving average is $79.58 and its two-hundred day moving average is $106.96. Trade Desk has a 1 year low of $48.86 and a 1 year high of $141.53.

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%. As a group, sell-side analysts expect that Trade Desk will post 1.06 EPS for the current year.

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

Insider Buying and Selling at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business’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 owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Investment Management Corp VA ADV purchased a new position in Trade Desk in the 4th quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC boosted its holdings in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at $34,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 67.77% 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.