Bank of New York Mellon Corp Raises Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Bank of New York Mellon Corp boosted its stake in The Trade Desk, Inc. (NASDAQ:TTD) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,019,707 shares of the technology company’s stock after purchasing an additional 5,080 shares during the period. Bank of New York Mellon Corp’s holdings in Trade Desk were worth $237,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Focus Financial Network Inc. grew its holdings in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the last quarter. CAP Partners LLC boosted its position in Trade Desk by 1.4% during the 3rd quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock valued at $702,000 after buying an additional 86 shares during the period. RMR Wealth Builders grew its holdings in Trade Desk by 0.8% in the 4th quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 89 shares during the last quarter. Quotient Wealth Partners LLC increased its position in shares of Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. Finally, TFB Advisors LLC raised its stake in shares of Trade Desk by 2.6% during the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock valued at $442,000 after acquiring an additional 94 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TTD. Oppenheimer cut their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Royal Bank of Canada cut their price objective on Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Loop Capital decreased their target price on Trade Desk from $145.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Benchmark reiterated a “sell” rating and issued a $57.00 price target on shares of Trade Desk in a report on Friday, November 8th. Finally, Wolfe Research upped their price objective on shares of Trade Desk from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus price target of $119.45.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $71.49 on Friday. The company has a 50-day simple moving average of $110.70 and a two-hundred day simple moving average of $114.44. The Trade Desk, Inc. has a 52-week low of $70.44 and a 52-week high of $141.53. The stock has a market capitalization of $35.29 billion, a PE ratio of 91.65, a price-to-earnings-growth ratio of 3.11 and a beta of 1.45.

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

Trade Desk announced that its Board of Directors has authorized a share repurchase 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, insider Jay R. Grant sold 18,524 shares of Trade Desk stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the completion of the sale, the insider now directly owns 169,464 shares in the company, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the transaction, the insider now owns 90,709 shares in the company, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock valued at $5,004,296 over the last ninety days. 9.72% of the stock is currently owned by corporate insiders.

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.