Bell Bank Decreases Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Bell Bank cut its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,469 shares of the technology company’s stock after selling 181 shares during the period. Bell Bank’s holdings in Trade Desk were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Ithaka Group LLC grew its holdings in Trade Desk by 4.5% during the 3rd quarter. Ithaka Group LLC now owns 112,888 shares of the technology company’s stock worth $12,378,000 after acquiring an additional 4,836 shares in the last quarter. Lyell Wealth Management LP grew its stake in Trade Desk by 24.3% in the fourth quarter. Lyell Wealth Management LP now owns 98,339 shares of the technology company’s stock worth $11,558,000 after purchasing an additional 19,204 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trade Desk by 36.2% in the fourth quarter. Nordea Investment Management AB now owns 1,347,318 shares of the technology company’s stock valued at $159,132,000 after buying an additional 358,350 shares during the last quarter. Assetmark Inc. raised its stake in Trade Desk by 2,461.2% during the third quarter. Assetmark Inc. now owns 73,559 shares of the technology company’s stock valued at $8,066,000 after buying an additional 70,687 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Trade Desk by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,321,400 shares of the technology company’s stock worth $144,892,000 after buying an additional 4,500 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Trade Desk

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 stock was sold at an average price of $119.35, for a total transaction of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is owned by corporate insiders.

Trade Desk Stock Down 4.8 %

Shares of Trade Desk stock opened at $72.06 on Friday. The Trade Desk, Inc. has a 12-month low of $71.61 and a 12-month high of $141.53. The firm has a market capitalization of $35.57 billion, a PE ratio of 92.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45. The stock’s fifty day moving average is $115.27 and its 200-day moving average is $114.88.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) 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%. Analysts expect that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Analysts Set New Price Targets

TTD has been the topic of several research reports. New Street Research raised Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a research report on Monday, November 25th. Wells Fargo & Company dropped their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird decreased their price target on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. DA Davidson dropped their price objective on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and cut their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. One investment 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 a consensus rating of “Moderate Buy” and an average price target of $119.45.

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.