Trade Desk (NASDAQ:TTD) Price Target Cut to $72.00 by Analysts at Wells Fargo & Company

Trade Desk (NASDAQ:TTD - Get Free Report) had its target price cut by equities research analysts at Wells Fargo & Company from $101.00 to $72.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's price objective points to a potential upside of 27.15% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Robert W. Baird cut their target price on shares of Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded Trade Desk to a "strong-buy" rating in a research note on Tuesday, January 21st. JMP Securities cut their price objective on Trade Desk from $150.00 to $115.00 and set a "market outperform" rating for the company in a research report on Thursday, February 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 target price on shares of Trade Desk in a report on Thursday, March 13th. Finally, Royal Bank of Canada dropped their price target on Trade Desk from $120.00 to $100.00 and set an "outperform" rating on the stock in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.38.

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Trade Desk Stock Down 0.8 %

Shares of NASDAQ:TTD traded down $0.47 on Monday, reaching $56.63. The company had a trading volume of 1,450,112 shares, compared to its average volume of 4,810,917. The stock has a 50-day moving average price of $82.27 and a 200 day moving average price of $107.72. Trade Desk has a twelve month low of $52.90 and a twelve month high of $141.53. The stock has a market capitalization of $28.09 billion, a P/E ratio of 72.29, a P/E/G ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 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%. On average, sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

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

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the 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 owns 90,709 shares in the company, valued at $10,754,459.04. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TTD. Lyell Wealth Management LP raised its stake 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 worth $11,558,000 after acquiring an additional 19,204 shares during the last quarter. Nordea Investment Management AB raised its position 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 purchasing an additional 358,350 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Trade Desk by 276.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company's stock worth $8,255,000 after purchasing an additional 51,603 shares during the last quarter. Independent Solutions Wealth Management LLC lifted its holdings 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 worth $7,057,000 after buying an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Trade Desk in the 4th quarter valued at $985,000. 67.77% of the stock is owned by institutional investors.

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.