Trade Desk (NASDAQ:TTD) Price Target Lowered to $67.00 at KeyCorp

Trade Desk (NASDAQ:TTD - Free Report) had its price objective decreased by KeyCorp from $74.00 to $67.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company's stock.

A number of other analysts also recently issued reports on TTD. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a research report on Tuesday, January 21st. Wedbush lifted their price target on shares of Trade Desk from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. BMO Capital Markets cut their price target on shares of Trade Desk from $160.00 to $115.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Citigroup decreased their price objective on shares of Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald cut their target price on Trade Desk from $115.00 to $100.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.79.

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Trade Desk Price Performance

Shares of NASDAQ TTD traded up $0.51 during midday trading on Wednesday, reaching $49.78. 7,135,822 shares of the stock traded hands, compared to its average volume of 5,155,756. The company's 50 day moving average is $68.37 and its 200 day moving average is $103.64. Trade Desk has a one year low of $42.96 and a one year high of $141.53. The stock has a market capitalization of $24.70 billion, a PE ratio of 63.82, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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, equities analysts forecast that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other Trade Desk news, insider Samantha Jacobson sold 4,298 shares of the firm's 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 approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lyell Wealth Management LP increased its holdings in shares of Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company's stock valued at $11,558,000 after purchasing an additional 19,204 shares during the period. Nordea Investment Management AB increased its holdings in Trade Desk by 36.2% in the 4th quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company's stock worth $159,132,000 after buying an additional 358,350 shares during the period. Assenagon Asset Management S.A. raised its position in Trade Desk by 276.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after buying an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC lifted its stake in Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company's stock valued at $7,057,000 after acquiring an additional 11,181 shares during the period. Finally, Moody National Bank Trust Division purchased a new stake in shares of Trade Desk in the 4th quarter valued at $985,000. Hedge funds and other institutional investors 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.