TIAA Trust National Association Grows Position in The Trade Desk, Inc. (NASDAQ:TTD)

TIAA Trust National Association raised its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 892.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,902 shares of the technology company’s stock after purchasing an additional 20,594 shares during the quarter. TIAA Trust National Association’s holdings in Trade Desk were worth $2,692,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter valued at $26,000. Harbor Investment Advisory LLC grew its position in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after acquiring an additional 117 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the fourth quarter worth about $34,000. Exchange Traded Concepts LLC acquired a new stake in shares of Trade Desk during the fourth quarter worth about $35,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TTD. Morgan Stanley reduced their target price on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Susquehanna decreased their target price on Trade Desk from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Thursday, March 13th. Scotiabank decreased their price objective on Trade Desk from $133.00 to $83.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Finally, KeyCorp cut their target price on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Insider Activity at Trade Desk

In other news, 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 transaction of $509,570.88. Following the completion of the transaction, the insider now directly owns 90,709 shares of the company’s stock, valued at approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jay R. Grant sold 18,524 shares of Trade Desk 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 completion of the sale, the insider now owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % 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.

Trade Desk Stock Performance

Shares of TTD opened at $58.80 on Thursday. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 75.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. 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 $87.66 and a 200-day simple moving average of $108.97.

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 announced that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in shares. This repurchase authorization allows the technology company to buy up to 0.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.