Trade Desk (NASDAQ:TTD) Lowered to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company lowered shares of Trade Desk (NASDAQ:TTD) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $68.00 price target on the technology company’s stock, down from their prior price target of $74.00.

TTD has been the subject of several other reports. Guggenheim lowered their price objective on shares of Trade Desk from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, May 9th. JMP Securities reiterated a “market outperform” rating and set a $100.00 price target on shares of Trade Desk in a research note on Tuesday. Citigroup increased their price objective on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a report on Friday, May 9th. Macquarie lifted their target price on Trade Desk from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Finally, Cfra Research upgraded shares of Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.03.

Trade Desk Stock Performance

Shares of TTD opened at $68.02 on Thursday. The stock has a market capitalization of $33.43 billion, a PE ratio of 82.95, a P/E/G ratio of 3.20 and a beta of 1.41. The company’s fifty day moving average is $67.18 and its 200 day moving average is $82.84. Trade Desk has a fifty-two week low of $42.96 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million during the quarter, compared to the consensus estimate of $575.62 million. Trade Desk had a return on equity of 15.41% and a net margin of 16.04%. Trade Desk’s revenue was up 25.4% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts forecast that Trade Desk will post 1.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director David B. Wells sold 28,638 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $79.88, for a total value of $2,287,603.44. Following the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This trade represents a 29.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Terry Green sold 26,684 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now owns 17,018 shares of the company’s stock, valued at $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Institutional Trading of Trade Desk

Hedge funds have recently bought and sold shares of the business. Investment Management Corp VA ADV purchased a new position in Trade Desk during the fourth quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $26,000. Banque Cantonale Vaudoise acquired a new position in shares of Trade Desk during the 1st quarter valued at about $26,000. Cloud Capital Management LLC purchased a new stake in shares of Trade Desk in the first quarter valued at about $27,000. Finally, von Borstel & Associates Inc. acquired a new stake in Trade Desk during the first quarter worth about $31,000. Institutional investors and hedge funds 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.