CIBC Asset Management Inc Sells 13,394 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

CIBC Asset Management Inc reduced its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 179,866 shares of the technology company’s stock after selling 13,394 shares during the quarter. CIBC Asset Management Inc’s holdings in Trade Desk were worth $21,140,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Creative Planning grew its stake in Trade Desk by 10.6% in the 3rd quarter. Creative Planning now owns 129,599 shares of the technology company’s stock worth $14,211,000 after acquiring an additional 12,384 shares in the last quarter. Blue Trust Inc. grew its stake in Trade Desk by 364.9% in the third quarter. Blue Trust Inc. now owns 6,169 shares of the technology company’s stock worth $676,000 after purchasing an additional 4,842 shares in the last quarter. Means Investment CO. Inc. purchased a new position in Trade Desk during the 3rd quarter worth $201,000. OLD National Bancorp IN increased its holdings in Trade Desk by 31.7% during the 3rd quarter. OLD National Bancorp IN now owns 3,555 shares of the technology company’s stock worth $390,000 after purchasing an additional 855 shares during the period. Finally, Brown Lisle Cummings Inc. raised its position in Trade Desk by 66.7% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TTD shares. Cantor Fitzgerald cut their price target on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. JMP Securities reduced their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday, February 13th. Loop Capital increased their price objective on shares of Trade Desk from $120.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, November 11th. BTIG Research boosted their price objective on shares of Trade Desk from $114.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their target price on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.97.

Trade Desk Stock Performance

Trade Desk stock opened at $80.16 on Tuesday. The business’s 50-day simple moving average is $119.84 and its two-hundred day simple moving average is $115.53. The company has a market cap of $39.56 billion, a PE ratio of 131.41, a PEG ratio of 3.63 and a beta of 1.45. The Trade Desk, Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $141.53.

Trade Desk (NASDAQ:TTD) last issued its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. As a group, analysts predict that The Trade Desk, Inc. will post 0.87 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 0.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Trade Desk

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 169,464 shares in the company, valued at $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock worth $5,004,296 over the last 90 days. 9.72% of the stock is currently owned by company insiders.

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.