The Trade Desk, Inc. (NASDAQ:TTD) Receives $115.41 Consensus Target Price from Analysts

Shares of The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-nine brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $114.38.

Several brokerages recently weighed in on TTD. KeyCorp dropped their target price on shares of Trade Desk from $130.00 to $74.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Loop Capital decreased their target price on Trade Desk from $145.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Citizens Jmp raised Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. Citigroup cut their price objective on shares of Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company dropped their target price on shares of Trade Desk from $101.00 to $72.00 and set an "overweight" rating for the company in a research report on Monday.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company's stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company's 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 completion of the sale, the insider now owns 90,709 shares of the company's stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.72% of the company's stock.

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Hedge Funds Weigh In On Trade Desk

Several large investors have recently modified their holdings of TTD. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the fourth quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the 4th quarter valued at approximately $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 worth $34,000 after acquiring an additional 117 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in Trade Desk in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 67.77% of the company's stock.

Trade Desk Trading Down 12.8 %

Trade Desk stock traded down $7.22 during trading on Tuesday, reaching $49.08. The company had a trading volume of 14,759,673 shares, compared to its average volume of 4,891,684. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 62.92, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56. The firm's 50-day simple moving average is $80.98 and its 200 day simple moving average is $107.36. Trade Desk has a 52 week low of $48.88 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD - Get Free Report) last posted its quarterly earnings data 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 net margin of 16.08% and a return on equity of 16.38%. On average, analysts predict that Trade Desk will post 1.06 earnings per share for the current year.

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

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.