PNC Financial Services Group Inc. Has $9.51 Million Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

PNC Financial Services Group Inc. lowered its position in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,930 shares of the technology company’s stock after selling 349 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Trade Desk were worth $9,512,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TTD. Harbor Investment Advisory LLC increased 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 valued at $34,000 after buying an additional 117 shares during the period. Synergy Asset Management LLC acquired a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the 4th quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new position in Trade Desk in the 4th quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in Trade Desk in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of TTD stock opened at $58.84 on Wednesday. The Trade Desk, Inc. has a 52-week low of $58.57 and a 52-week high of $141.53. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 75.44, a P/E/G ratio of 3.11 and a beta of 1.63. The firm has a fifty day moving average of $102.74 and a 200-day moving average of $112.90.

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

Trade Desk announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have commented on TTD. StockNews.com downgraded shares of Trade Desk from a “buy” rating to a “hold” rating in a research report on Saturday, November 30th. Cantor Fitzgerald decreased their target price on shares of Trade Desk from $115.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Benchmark raised shares of Trade Desk from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Royal Bank of Canada decreased their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their target price 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. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Trade Desk currently has a consensus rating of “Moderate Buy” and an average target price of $119.45.

Insider Activity

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the 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 in the company, valued at $88,338,485.76. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Samantha Jacobson sold 4,298 shares of the 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 sale, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. 9.72% of the stock is currently owned by corporate insiders.

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.