The Trade Desk, Inc. (NASDAQ:TTD) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 6.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,098,202 shares of the technology company’s stock after selling 76,026 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Trade Desk were worth $129,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Trade Desk in the 4th quarter valued at approximately $231,570,000. National Pension Service grew its holdings in Trade Desk by 104.1% in the fourth quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock valued at $148,674,000 after purchasing an additional 645,240 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Trade Desk by 55.3% in the third quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after buying an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Trade Desk by 1,809.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after buying an additional 421,333 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Trade Desk by 326.1% during the 3rd quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after buying an additional 389,917 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Stock Performance

TTD opened at $59.34 on Tuesday. The Trade Desk, Inc. has a 1 year low of $53.39 and a 1 year high of $141.53. The firm has a 50 day moving average price of $89.97 and a 200 day moving average price of $109.60. The company has a market cap of $29.44 billion, a PE ratio of 76.08, a price-to-earnings-growth 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 (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. On average, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current year.

Trade Desk declared that its board has approved a stock buyback 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

TTD has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and set a $110.00 target price (down from $140.00) on shares of Trade Desk in a report on Thursday, February 13th. Stifel Nicolaus lowered their price target on shares of Trade Desk from $144.00 to $122.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $135.00 to $90.00 in a research report on Thursday, February 13th. UBS Group increased their target price on Trade Desk from $116.00 to $148.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company cut their price target on Trade Desk from $142.00 to $101.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.41.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the sale, the insider now directly owns 90,709 shares in the company, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. This trade represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,029 shares of company stock valued at $5,004,296 over the last three months. 9.72% of the stock is owned by company 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.