Amundi Reduces Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Amundi lessened its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,607,375 shares of the technology company’s stock after selling 17,464 shares during the quarter. Amundi owned 0.33% of Trade Desk worth $195,328,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Edgewood Management LLC increased its position in shares of Trade Desk by 133.3% during the 3rd quarter. Edgewood Management LLC now owns 9,934,156 shares of the technology company’s stock valued at $1,089,280,000 after purchasing an additional 5,675,571 shares during the last quarter. Jennison Associates LLC grew its position in Trade Desk by 11.0% during the third quarter. Jennison Associates LLC now owns 20,320,769 shares of the technology company’s stock valued at $2,228,172,000 after buying an additional 2,013,047 shares during the period. Raymond James Financial Inc. purchased a new stake in Trade Desk during the fourth quarter valued at approximately $231,570,000. Baillie Gifford & Co. raised its position in Trade Desk by 4.7% in the third quarter. Baillie Gifford & Co. now owns 38,716,074 shares of the technology company’s stock worth $4,245,218,000 after acquiring an additional 1,720,650 shares during the period. Finally, National Pension Service boosted its stake in shares of Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after acquiring an additional 645,240 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI lowered Trade Desk from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $135.00 to $90.00 in a research note on Thursday, February 13th. Wolfe Research upped their price target on Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley lowered their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. KeyCorp increased their target price on shares of Trade Desk from $140.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $145.00 price target on shares of Trade Desk in a report on Friday. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samantha Jacobson sold 4,298 shares of the company’s 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 approximately $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is owned by company insiders.

Trade Desk Stock Down 0.1 %

Shares of NASDAQ:TTD opened at $64.91 on Monday. The firm has a fifty day simple moving average of $103.94 and a two-hundred day simple moving average of $113.21. The stock has a market capitalization of $32.20 billion, a P/E ratio of 83.22, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52 week low of $63.82 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.