Brokerages Set The Trade Desk, Inc. (NASDAQ:TTD) Target Price at $119.45

The Trade Desk, Inc. (NASDAQ:TTD - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $119.45.

A number of analysts recently issued reports on the company. Citigroup lowered their price target on Trade Desk from $140.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a report on Tuesday, January 21st. UBS Group boosted their price target on Trade Desk from $116.00 to $148.00 and gave the company a "buy" rating in a report on Friday, February 14th. JMP Securities lowered their price target on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price target on Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, February 13th.

Insider Activity at Trade Desk

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

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Institutional Investors Weigh In On Trade Desk

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company's stock valued at $5,015,035,000 after purchasing an additional 253,137 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Trade Desk by 4.7% during the 3rd quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company's stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Trade Desk by 11.0% during the 3rd quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company's stock worth $2,228,172,000 after acquiring an additional 2,013,047 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company's stock worth $1,089,280,000 after acquiring an additional 5,675,571 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Trade Desk by 2.6% during the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company's stock worth $930,477,000 after acquiring an additional 198,822 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Price Performance

Shares of NASDAQ:TTD traded down $0.07 during trading hours on Friday, hitting $64.91. 11,469,784 shares of the company's stock traded hands, compared to its average volume of 8,075,771. Trade Desk has a 1 year low of $63.82 and a 1 year high of $141.53. The business has a fifty day moving average price of $105.07 and a 200-day moving average price of $113.33. The firm has a market capitalization of $32.20 billion, a P/E ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities 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 stock repurchase 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 purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are 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.