Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Mitsubishi UFJ Trust & Banking Corp lessened its position in The Trade Desk, Inc. (NASDAQ:TTD) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,098,202 shares of the technology company’s stock after selling 76,026 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.22% of Trade Desk worth $129,072,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Trade Desk during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC boosted its stake in shares of Trade Desk by 68.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock valued at $34,000 after purchasing an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in shares of Trade Desk in the fourth quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new stake in Trade Desk during the 4th quarter worth approximately $34,000. Finally, Zions Bancorporation N.A. lifted its holdings in Trade Desk by 148.3% during the 4th quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TTD. Wells Fargo & Company dropped their price target on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. New Street Research upgraded Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the stock from $85.00 to $115.00 in a report on Monday, November 25th. Morgan Stanley decreased their price objective on Trade Desk from $145.00 to $132.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. DA Davidson cut their target price 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, Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a research note on Thursday, March 13th. Six 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 stock. Based on data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Trade Desk Stock Up 5.4 %

Shares of TTD stock opened at $59.34 on Tuesday. The stock’s 50-day moving average price is $89.97 and its 200 day moving average price is $109.60. The stock has a market capitalization of $29.44 billion, a PE ratio of 76.08, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52-week low of $53.39 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its 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 net margin of 16.08% and a return on equity of 16.38%. Analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized 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 buy up to 0.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling 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, CEO Jeffrey Terry Green sold 18,207 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,029 shares of company stock valued at $5,004,296. 9.72% of the stock is owned by company insiders.

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.