Analysts Cut Trade Desk Targets to $38–$75 After $58.6M ETF Sale
On February 2, Cathie Wood’s ARK fund sold 1.93 million Trade Desk shares for $58.6 million, marking a substantial institutional exit. Five firms cut their 12-month targets—Rosenblatt to $53, Truist to $60, Citi to $38, Stifel to $75 and BofA to $40—while Wells Fargo flagged CFO turnover under its $42 target.
1. Major ETF Divestment
On February 2, Cathie Wood’s ARK fund divested 1,931,578 Trade Desk shares for $58.6 million, representing a major institutional exit. This large sale may signal waning confidence among growth-oriented investors and could pressure valuation.
2. Analysts Slash Price Targets
Over the past month, five research firms trimmed their 12-month targets: Rosenblatt from $64 to $53, Truist from $65 to $60, Citi from $50 to $38, Stifel from $90 to $75 and Bank of America from $49 to $40. These downward revisions reflect concerns over revenue growth and competitive pressures.
3. CFO Turnover Sparks Volatility Concerns
Wells Fargo kept an Equal Weight rating with a $42 target but highlighted the abrupt CFO resignation as evidence of ‘continued fundamental and narrative volatility.’ The note advised appointing a CFO with public-company experience to bolster financial leadership and strategic execution.