TD Asset Management Inc. Trims Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

TD Asset Management Inc. lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,581,303 shares of the technology company’s stock after selling 61,211 shares during the quarter. TD Asset Management Inc. owned about 0.32% of Trade Desk worth $185,851,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter worth $26,000. Harbor Investment Advisory LLC grew 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 purchasing an additional 117 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Trade Desk during the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC acquired a new position in shares of Trade Desk in the 4th quarter valued at about $34,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Trade Desk in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 4.5 %

Trade Desk stock opened at $62.00 on Wednesday. The company has a 50-day moving average price of $88.88 and a 200 day moving average price of $109.33. The Trade Desk, Inc. has a 12-month low of $53.39 and a 12-month high of $141.53. The stock has a market cap of $30.76 billion, a P/E ratio of 79.49, a PEG ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last announced its quarterly 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%. As a group, analysts forecast 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 program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 0.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Jay R. Grant sold 18,524 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 in the last quarter. Insiders own 9.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TTD. Citigroup decreased their price target on Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citizens Jmp raised shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and dropped their price target for the company from $135.00 to $90.00 in a research report on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, StockNews.com cut Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.41.

Trade Desk 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.