Loop Capital Cuts Trade Desk (NASDAQ:TTD) Price Target to $101.00

Trade Desk (NASDAQ:TTD - Free Report) had its price target lowered by Loop Capital from $145.00 to $101.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

Other research analysts have also issued reports about the company. Robert W. Baird lowered their target price on Trade Desk from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their target price on Trade Desk from $145.00 to $132.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Thursday, February 13th. DA Davidson lowered their target price on Trade Desk from $134.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Oppenheimer decreased their price target on Trade Desk from $135.00 to $115.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of "Moderate Buy" and a consensus target price of $119.45.

Trade Desk Stock Performance

Shares of TTD traded down $3.67 during trading hours on Thursday, reaching $72.06. The stock had a trading volume of 12,810,867 shares, compared to its average volume of 7,245,894. Trade Desk has a 12 month low of $71.61 and a 12 month high of $141.53. The stock has a market capitalization of $35.57 billion, a PE ratio of 92.38, a PEG ratio of 3.15 and a beta of 1.45. The company's 50-day moving average is $115.27 and its two-hundred day moving average is $114.88.

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 return on equity of 16.38% and a net margin of 16.08%. Equities analysts anticipate 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 share repurchase program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes 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 board believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the business's stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the business's stock in a transaction that occurred 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 $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,029 shares of company stock valued at $5,004,296. Corporate insiders own 9.72% of the company's stock.

Hedge Funds Weigh In On Trade Desk

Hedge funds and other institutional investors have recently modified their holdings of the business. Investment Management Corp VA ADV purchased a new position in shares of Trade Desk in the 4th quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $26,000. Harbor Investment Advisory LLC lifted its stake in Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company's stock valued at $34,000 after purchasing an additional 117 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Trade Desk in the fourth quarter valued at approximately $34,000. Finally, Zions Bancorporation N.A. lifted its stake in Trade Desk by 148.3% in the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company's stock valued at $34,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

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.