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

Trade Desk (NASDAQ:TTD) had its price objective lowered by KeyCorp from $130.00 to $74.00 in a research report released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

A number of other research firms have also recently commented on TTD. Stifel Nicolaus lowered their target price on Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Loop Capital lowered their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. UBS Group raised their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research note on Saturday, November 30th. Finally, Cantor Fitzgerald lowered their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk Stock Performance

NASDAQ TTD opened at $55.85 on Tuesday. Trade Desk has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The stock has a 50 day simple moving average of $92.39 and a two-hundred day simple moving average of $110.12. The stock has a market cap of $27.71 billion, a P/E ratio of 71.60, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data 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%. 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 buyback program on Wednesday, February 12th that permits the company to repurchase $564.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 transaction, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors and hedge funds have recently bought and sold shares of TTD. OneDigital Investment Advisors LLC lifted its position in Trade Desk by 7.1% during the third quarter. OneDigital Investment Advisors LLC now owns 7,737 shares of the technology company’s stock valued at $848,000 after purchasing an additional 513 shares in the last quarter. Empowered Funds LLC lifted its position in Trade Desk by 6.9% during the third quarter. Empowered Funds LLC now owns 14,738 shares of the technology company’s stock valued at $1,616,000 after purchasing an additional 953 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Trade Desk in the third quarter valued at about $85,000. Meeder Advisory Services Inc. lifted its position in shares of Trade Desk by 3.2% in the third quarter. Meeder Advisory Services Inc. now owns 10,146 shares of the technology company’s stock valued at $1,113,000 after acquiring an additional 313 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its position in shares of Trade Desk by 14.1% in the third quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock valued at $2,005,000 after acquiring an additional 2,263 shares in the last quarter. 67.77% of the stock is currently owned by hedge funds and other 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.