Truist Financial Cuts Trade Desk (NASDAQ:TTD) Price Target to $95.00

Trade Desk (NASDAQ:TTD) had its target price decreased by Truist Financial from $130.00 to $95.00 in a report published on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

TTD has been the subject of several other reports. Morgan Stanley dropped their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. BMO Capital Markets reduced their target price on Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. JMP Securities lowered their price target on Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Loop Capital cut their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.10.

Trade Desk Stock Performance

Trade Desk stock opened at $50.26 on Thursday. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53. The stock has a market cap of $24.93 billion, a P/E ratio of 64.44, a PEG ratio of 3.11 and a beta of 1.56. The firm’s fifty day moving average price is $61.52 and its 200-day moving average price is $101.56.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Sell-side 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 share repurchase program on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares in the company, valued at approximately $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Trade Desk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock worth $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Invesco Ltd. boosted its stake in Trade Desk by 2.6% in the 4th quarter. Invesco Ltd. now owns 7,916,932 shares of the technology company’s stock worth $930,477,000 after purchasing an additional 198,822 shares in the last quarter. Norges Bank purchased a new stake in Trade Desk during the 4th quarter valued at about $524,187,000. FMR LLC increased its stake in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after purchasing an additional 1,172,082 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Trade Desk by 13.2% in the fourth quarter. Bank of America Corp DE now owns 3,591,849 shares of the technology company’s stock worth $422,150,000 after buying an additional 418,911 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.