Private Trust Co. NA Reduces Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Private Trust Co. NA reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 20.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,362 shares of the technology company’s stock after selling 1,397 shares during the period. Private Trust Co. NA’s holdings in Trade Desk were worth $630,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TTD. abrdn plc boosted its holdings in shares of Trade Desk by 57.2% in the 3rd quarter. abrdn plc now owns 79,618 shares of the technology company’s stock valued at $8,730,000 after acquiring an additional 28,967 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in shares of Trade Desk by 194.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 374 shares of the technology company’s stock valued at $41,000 after acquiring an additional 247 shares during the last quarter. Oak Ridge Investments LLC purchased a new stake in shares of Trade Desk in the 3rd quarter valued at $408,000. Stephens Investment Management Group LLC boosted its holdings in shares of Trade Desk by 109.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 163,084 shares of the technology company’s stock valued at $17,882,000 after acquiring an additional 85,380 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in shares of Trade Desk by 48.3% in the 3rd quarter. Stephens Inc. AR now owns 7,944 shares of the technology company’s stock valued at $871,000 after acquiring an additional 2,588 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Trade Desk Stock Down 1.7 %

Shares of NASDAQ TTD opened at $70.31 on Friday. The firm has a 50-day simple moving average of $109.60 and a 200-day simple moving average of $114.36. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 90.14, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The Trade Desk, Inc. has a 52 week low of $69.37 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. As a group, equities research analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

Trade Desk announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to repurchase $564.00 million in shares. This repurchase authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TTD. Needham & Company LLC reissued a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, February 13th. Truist Financial lowered their price target on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Loop Capital lowered their price target on shares of Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Oppenheimer lowered their price target on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Evercore ISI downgraded shares of Trade Desk from an “outperform” rating to an “inline” rating and lowered their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk currently has an average rating of “Moderate Buy” and an average price target of $119.45.

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.