KeyCorp Lowers Trade Desk (NASDAQ:TTD) Price Target to $74.00

Trade Desk (NASDAQ:TTD - Get Free Report) had its target price dropped by KeyCorp from $130.00 to $74.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the technology company's stock. KeyCorp's target price points to a potential upside of 31.42% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial lowered their price target on shares of Trade Desk from $155.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered their price target on shares of Trade Desk from $144.00 to $122.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Piper Sandler reiterated an "overweight" rating and set a $110.00 price target (down previously from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Loop Capital lowered their target price on shares of Trade Desk from $145.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, Citigroup lowered their target price 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. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $116.41.

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Trade Desk Trading Up 0.8 %

TTD traded up $0.46 during trading hours on Tuesday, hitting $56.31. 9,032,586 shares of the company's stock were exchanged, compared to its average volume of 4,591,457. Trade Desk has a 12-month low of $53.39 and a 12-month high of $141.53. The firm has a 50 day moving average of $91.14 and a 200 day moving average of $109.85. The firm has a market cap of $27.93 billion, a P/E 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 earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. As a group, research analysts expect that Trade Desk will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Trade Desk

A number of large investors have recently bought and sold shares of the stock. 111 Capital purchased a new position in Trade Desk during the fourth quarter worth approximately $562,000. Lansforsakringar Fondforvaltning AB publ purchased a new position in Trade Desk during the fourth quarter worth approximately $17,176,000. Centaurus Financial Inc. raised its stake in shares of Trade Desk by 84.2% in the 4th quarter. Centaurus Financial Inc. now owns 6,486 shares of the technology company's stock valued at $762,000 after acquiring an additional 2,965 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at $591,000. Finally, Lighthouse Financial LLC purchased a new position in shares of Trade Desk in the 4th quarter valued at $3,536,000. 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.