Erste Asset Management GmbH Reduces Position in The Trade Desk, Inc. (NASDAQ:TTD)

Erste Asset Management GmbH reduced its position in The Trade Desk, Inc. (NASDAQ:TTD) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,000 shares of the technology company’s stock after selling 15,000 shares during the quarter. Erste Asset Management GmbH’s holdings in Trade Desk were worth $19,227,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TTD. Rialto Wealth Management LLC bought a new position in shares of Trade Desk in the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its stake in Trade Desk by 68.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after acquiring an additional 117 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Trade Desk during the fourth quarter worth approximately $34,000. Midwest Capital Advisors LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Trade Desk during the fourth quarter valued at approximately $35,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Trading Up 2.3 %

TTD opened at $60.20 on Thursday. The Trade Desk, Inc. has a 12-month low of $57.86 and a 12-month high of $141.53. The firm has a 50 day moving average of $101.57 and a two-hundred day moving average of $112.58. The firm has a market capitalization of $29.86 billion, a PE ratio of 77.18, a P/E/G ratio of 3.11 and a beta of 1.63.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. As a group, analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk declared that its board has authorized a share buyback program on Wednesday, February 12th that authorizes the company to buyback $564.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire 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.

Wall Street Analyst Weigh In

Several research analysts have commented on TTD shares. Piper Sandler restated an “overweight” rating and set a $110.00 price objective (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Loop Capital decreased their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. UBS Group increased their target price on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Stifel Nicolaus lowered their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Wedbush lifted their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity at Trade Desk

In other news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay R. Grant sold 18,524 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, 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 sold a total of 41,029 shares of company stock worth $5,004,296 in the last three months. Company insiders own 9.72% of the company’s stock.

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.