By otakuyassine3@gmail.com 
Truist Financial Corp lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD – Free Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,547 shares of the technology company’s stock after selling 2,474 shares during the period. Truist Financial Corp’s holdings in Trade Desk were worth $13,110,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of TTD. Harbor Investment Advisory LLC lifted its position in Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Trade Desk during the 4th quarter worth $35,000. Synergy Asset Management LLC acquired a new position in Trade Desk during the 4th quarter worth $34,000. Avior Wealth Management LLC raised its position in shares of Trade Desk by 37.7% during the third quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its position in shares of Trade Desk by 194.5% during the third quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.
Trade Desk Trading Down 1.3 %
Shares of TTD stock opened at $75.73 on Friday. The Trade Desk, Inc. has a 1 year low of $74.10 and a 1 year high of $141.53. The firm’s 50 day moving average is $116.48 and its 200-day moving average is $114.96. The firm has a market capitalization of $37.38 billion, a price-to-earnings ratio of 97.09, a PEG ratio of 3.28 and a beta of 1.45.
Trade Desk (NASDAQ:TTD – Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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 forecast that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.
Trade Desk announced that its board has authorized a stock 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 repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. New Street Research raised shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price objective for the company from $85.00 to $115.00 in a research report on Monday, November 25th. UBS Group upped their price objective on shares of Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Cantor Fitzgerald cut their price objective on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Benchmark reaffirmed a “sell” rating and set a $57.00 price objective on shares of Trade Desk in a research report on Friday, November 8th. Finally, Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $119.45.
Check Out Our Latest Analysis on TTD
Insider Transactions at Trade Desk
In related news, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,029 shares of company stock worth $5,004,296. Corporate insiders own 9.72% 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.
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