MidWestOne Financial Group Inc. Reduces Position in The Trade Desk, Inc. (NASDAQ:TTD)

MidWestOne Financial Group Inc. lowered its position in The Trade Desk, Inc. (NASDAQ:TTD) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,015 shares of the technology company’s stock after selling 152 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Trade Desk were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TTD. Norges Bank acquired a new position in Trade Desk in the fourth quarter valued at $524,187,000. Brown Advisory Inc. grew its holdings in shares of Trade Desk by 3,037.0% during the fourth quarter. Brown Advisory Inc. now owns 2,714,955 shares of the technology company’s stock worth $319,089,000 after buying an additional 2,628,409 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trade Desk during the fourth quarter worth about $231,570,000. Franklin Resources Inc. increased its position in Trade Desk by 265.9% in the 4th quarter. Franklin Resources Inc. now owns 1,864,386 shares of the technology company’s stock valued at $219,121,000 after acquiring an additional 1,354,891 shares during the period. Finally, FMR LLC raised its stake in Trade Desk by 44.8% during the 4th quarter. FMR LLC now owns 3,788,285 shares of the technology company’s stock valued at $445,237,000 after acquiring an additional 1,172,082 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald dropped their target price on Trade Desk from $115.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. DA Davidson dropped their price objective on shares of Trade Desk from $103.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of Trade Desk in a research note on Thursday, May 15th. BMO Capital Markets lowered their target price on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Cfra Research raised shares of Trade Desk to a “moderate buy” rating in a report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.12.

Trade Desk Stock Down 3.4%

Shares of NASDAQ:TTD opened at $74.47 on Thursday. The company has a market capitalization of $36.94 billion, a P/E ratio of 95.47, a P/E/G ratio of 3.11 and a beta of 1.29. The Trade Desk, Inc. has a 52-week low of $42.96 and a 52-week high of $141.53. The stock’s fifty day simple moving average is $57.31 and its 200-day simple moving average is $92.97.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The company had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $564.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 26,684 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $80.03, for a total value of $2,135,520.52. Following the sale, the chief executive officer now directly owns 17,018 shares of the company’s stock, valued at approximately $1,361,950.54. This trade represents a 61.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Wells sold 28,638 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the sale, the director now owns 66,985 shares of the company’s stock, valued at approximately $5,350,761.80. The trade was a 29.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.