TD Asset Management Inc Sells 156,260 Shares of The Trade Desk $TTD

TD Asset Management Inc cut its position in shares of The Trade Desk (NASDAQ:TTD) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 437,228 shares of the technology company’s stock after selling 156,260 shares during the period. TD Asset Management Inc’s holdings in Trade Desk were worth $16,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. grew its position in Trade Desk by 204.9% in the fourth quarter. Cibc World Market Inc. now owns 323,827 shares of the technology company’s stock valued at $12,292,000 after acquiring an additional 217,627 shares during the period. WCG Wealth Advisors LLC bought a new stake in Trade Desk in the fourth quarter valued at $1,148,000. Marble Wealth LLC bought a new stake in Trade Desk in the fourth quarter valued at $370,000. Westpac Banking Corp grew its position in Trade Desk by 66.2% in the fourth quarter. Westpac Banking Corp now owns 2,529 shares of the technology company’s stock valued at $96,000 after acquiring an additional 1,007 shares during the period. Finally, AXQ Capital LP bought a new stake in Trade Desk in the fourth quarter valued at $279,000. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Performance

Shares of TTD stock opened at $19.43 on Tuesday. The stock’s fifty day moving average is $22.01 and its 200-day moving average is $28.78. The stock has a market capitalization of $9.13 billion, a PE ratio of 22.08, a PEG ratio of 0.97 and a beta of 1.05. The Trade Desk has a 52 week low of $19.10 and a 52 week high of $91.45.

Trade Desk (NASDAQ:TTD) last announced its earnings results on Thursday, May 7th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.24). The business had revenue of $688.86 million for the quarter, compared to the consensus estimate of $678.87 million. Trade Desk had a return on equity of 16.91% and a net margin of 14.57%.Trade Desk’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, analysts forecast that The Trade Desk will post 1.17 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 25th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, Director Samantha Jacobson sold 53,681 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $21.14, for a total transaction of $1,134,816.34. Following the transaction, the director owned 13,099 shares of the company’s stock, valued at $276,912.86. This represents a 80.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TTD has been the topic of a number of analyst reports. Oppenheimer cut Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. William Blair cut Trade Desk from an “outperform” rating to a “market perform” rating in a research report on Friday, May 8th. Piper Sandler reiterated a “neutral” rating and issued a $24.00 price target on shares of Trade Desk in a research report on Friday, May 8th. Moffett Nathanson reiterated a “neutral” rating and issued a $32.00 price target on shares of Trade Desk in a research report on Thursday, February 26th. Finally, Evercore set a $27.00 price target on Trade Desk in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.91.

Trade Desk Company Profile

The Trade Desk, Inc (NASDAQ: TTD) is a technology company that provides a demand-side platform (DSP) for programmatic digital advertising. Its platform enables advertisers, agencies and other buyers to plan, purchase and measure ad inventory across digital channels, including display, video, mobile, audio, native and connected TV. By centralizing real?time bidding, audience targeting and inventory access, the company aims to help clients optimize media spend and reach audiences at scale across publishers and ad exchanges.

Founded in 2009 by Jeff Green and Dave Pickles, The Trade Desk grew from a focus on programmatic display into a global ad?tech provider.