Federated Hermes Inc. Increases Holdings in The Trade Desk $TTD

Federated Hermes Inc. boosted its position in The Trade Desk (NASDAQ:TTD) by 33.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 412,838 shares of the technology company’s stock after buying an additional 104,430 shares during the period. Federated Hermes Inc.’s holdings in Trade Desk were worth $20,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC increased its position in shares of Trade Desk by 317.6% in the second quarter. Sound Income Strategies LLC now owns 355 shares of the technology company’s stock valued at $26,000 after buying an additional 270 shares in the last quarter. Transce3nd LLC acquired a new stake in Trade Desk in the 2nd quarter valued at about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in Trade Desk during the 2nd quarter valued at about $28,000. HighMark Wealth Management LLC raised its position in Trade Desk by 46.2% during the second quarter. HighMark Wealth Management LLC now owns 478 shares of the technology company’s stock worth $34,000 after acquiring an additional 151 shares during the last quarter. Finally, Estabrook Capital Management acquired a new position in Trade Desk during the second quarter worth about $36,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Trade Desk Stock Down 2.9%

TTD stock opened at $30.33 on Friday. The stock has a market capitalization of $14.67 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The Trade Desk has a 52-week low of $30.13 and a 52-week high of $125.80. The stock’s fifty day simple moving average is $37.25 and its 200-day simple moving average is $49.63.

Trade Desk (NASDAQ:TTD) last released its earnings results on Thursday, November 6th. The technology company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Trade Desk had a return on equity of 16.00% and a net margin of 15.72%.The firm had revenue of $739.43 million during the quarter, compared to analyst estimates of $719.11 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, analysts anticipate that The Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

TTD has been the subject of a number of recent research reports. Cfra Research cut shares of Trade Desk from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group set a $40.00 target price on Trade Desk and gave the company a “hold” rating in a report on Thursday, December 11th. Exane BNP Paribas raised Trade Desk to a “hold” rating in a research report on Wednesday, January 14th. Morgan Stanley reduced their price objective on Trade Desk from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 13th. Finally, Weiss Ratings lowered Trade Desk from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.53.

About Trade Desk

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.