Amundi Cuts Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Amundi cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,607,375 shares of the technology company’s stock after selling 17,464 shares during the quarter. Amundi’s holdings in Trade Desk were worth $195,328,000 as of its most recent SEC filing.

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

Trade Desk Stock Down 0.1 %

TTD opened at $64.91 on Monday. The company has a market cap of $32.20 billion, a PE ratio of 83.22, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a twelve month low of $63.82 and a twelve month high of $141.53. The company has a 50-day moving average price of $103.94 and a 200 day moving average price of $113.21.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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, sell-side analysts expect that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $564.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 0.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Trade Desk news, insider Jay R. Grant sold 18,524 shares of the firm’s 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. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value 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. This trade represents a 2.52 % decrease in their ownership of the stock. 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 in the last 90 days. 9.72% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on TTD shares. 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 research note on Thursday, February 13th. Benchmark upgraded shares of Trade Desk from a “sell” rating to a “hold” rating in a report on Friday. Truist Financial lowered their target price on shares of Trade Desk from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. New Street Research upgraded shares of Trade Desk from a “sell” rating to a “neutral” rating and upped their price target for the company from $85.00 to $115.00 in a research note on Monday, November 25th. Finally, JMP Securities lowered their price objective on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a research note on Thursday, February 13th. Six research 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 stock. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.45.

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.