Piper Sandler Begins Coverage on Trade Desk (NASDAQ:TTD)

Piper Sandler assumed coverage on shares of Trade Desk (NASDAQ:TTD) in a report released on Thursday. The firm set a “neutral” rating and a $55.00 price target on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 13.46% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of Trade Desk in a research note on Monday. Wells Fargo & Company lowered their price objective on shares of Trade Desk from $101.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Cfra Research raised Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Citizens Jmp raised Trade Desk to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Susquehanna lowered their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Seven equities research 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. According to MarketBeat.com, Trade Desk has a consensus rating of “Moderate Buy” and a consensus price target of $107.79.

Trade Desk Stock Up 0.1 %

Shares of Trade Desk stock traded up $0.03 during mid-day trading on Thursday, reaching $48.48. 799,574 shares of the stock traded hands, compared to its average volume of 5,212,451. The business has a 50-day moving average of $64.37 and a 200 day moving average of $102.42. 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 capitalization of $24.05 billion, a PE ratio of 62.10, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last posted its quarterly 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%. On average, equities 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 repurchase 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 buy up to 0.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the company’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 transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Several institutional investors have recently made changes to their positions in the stock. Lyell Wealth Management LP raised its holdings in shares of Trade Desk by 24.3% during the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock valued at $11,558,000 after buying an additional 19,204 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Trade Desk by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after purchasing an additional 358,350 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Trade Desk by 276.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 70,237 shares of the technology company’s stock valued at $8,255,000 after purchasing an additional 51,603 shares in the last quarter. Independent Solutions Wealth Management LLC raised its position in shares of Trade Desk by 21.0% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 64,358 shares of the technology company’s stock worth $7,057,000 after buying an additional 11,181 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Trade Desk in the fourth quarter valued at approximately $985,000. 67.77% of the stock is owned by 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.