Trade Desk (NASDAQ:TTD) Price Target Lowered to $100.00 at Royal Bank of Canada

Trade Desk (NASDAQ:TTD - Free Report) had its price target decreased by Royal Bank of Canada from $120.00 to $100.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company's stock.

Several other brokerages have also recently issued reports on TTD. StockNews.com cut Trade Desk from a "buy" rating to a "hold" rating in a research note on Saturday, November 30th. DA Davidson decreased their price objective on Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. 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 research note on Thursday, February 20th. Evercore ISI lowered Trade Desk from an "outperform" rating to an "inline" rating and cut their target price for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $110.00 target price (down previously from $140.00) on shares of Trade Desk in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Trade Desk has an average rating of "Moderate Buy" and a consensus price target of $116.41.

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Trade Desk Trading Up 0.8 %

Trade Desk stock traded up $0.46 during midday trading on Monday, reaching $56.31. 9,032,586 shares of the stock traded hands, compared to its average volume of 4,591,457. The company has a 50-day simple moving average of $91.14 and a two-hundred day simple moving average of $109.91. Trade Desk has a 12-month low of $53.39 and a 12-month high of $141.53. The firm has a market cap of $27.93 billion, a PE ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Trade Desk will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Samantha Jacobson sold 4,298 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $2,210,839.40. Following the completion of the sale, the insider now owns 169,464 shares in the company, valued at $20,225,528.40. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last three months. 9.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Institutional investors have recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in Trade Desk in the fourth quarter valued at $25,000. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC increased its stake in 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 last quarter. Midwest Capital Advisors LLC acquired a new stake in Trade Desk during the fourth quarter worth about $34,000. Finally, Zions Bancorporation N.A. increased its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock worth $34,000 after acquiring an additional 175 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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.