EFG Asset Management North America Corp. Trims Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

EFG Asset Management North America Corp. lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 17.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,300 shares of the technology company’s stock after selling 7,859 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Trade Desk were worth $4,266,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Rialto Wealth Management LLC purchased a new position in Trade Desk during the 4th quarter valued at about $26,000. Harbor Investment Advisory LLC lifted its position in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at approximately $35,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

Shares of TTD opened at $59.34 on Tuesday. The Trade Desk, Inc. has a fifty-two week low of $53.39 and a fifty-two week high of $141.53. The firm has a 50-day simple moving average of $89.97 and a 200-day simple moving average of $109.60. The company has a market capitalization of $29.44 billion, a price-to-earnings ratio of 76.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data 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%. Equities research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Activity at Trade Desk

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,754,459.04. This trade represents a 4.52 % 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 three months. Insiders own 9.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TTD shares. DA Davidson decreased their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a research report 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. Susquehanna cut their price target on Trade Desk from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Thursday, February 13th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and decreased their price objective for the company from $135.00 to $90.00 in a research note on Thursday, February 13th. Finally, Truist Financial cut their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

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.