American Century Companies Inc. Reduces Stock Position in The Trade Desk, Inc. (NASDAQ:TTD)

American Century Companies Inc. reduced its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 0.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,612,406 shares of the technology company’s stock after selling 14,893 shares during the period. American Century Companies Inc. owned approximately 0.33% of Trade Desk worth $189,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TTD. Quest Partners LLC purchased a new position in shares of Trade Desk in the 3rd quarter worth $85,000. Pathstone Holdings LLC boosted its stake in shares of Trade Desk by 14.1% during the 3rd quarter. Pathstone Holdings LLC now owns 18,284 shares of the technology company’s stock worth $2,005,000 after purchasing an additional 2,263 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Trade Desk during the 3rd quarter worth about $1,508,000. PNC Financial Services Group Inc. boosted its stake in shares of Trade Desk by 13.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 81,279 shares of the technology company’s stock worth $8,912,000 after purchasing an additional 9,435 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TTD. Royal Bank of Canada dropped their price target on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. JMP Securities dropped their price target 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. BMO Capital Markets dropped their price target on shares of Trade Desk from $160.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target 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. Finally, Robert W. Baird decreased their price objective on shares of Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Six 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 stock. According to MarketBeat.com, Trade Desk has an average rating of “Moderate Buy” and a consensus target price of $116.41.

Trade Desk Stock Up 0.8 %

NASDAQ TTD opened at $56.31 on Friday. The firm has a market cap of $27.93 billion, a PE ratio of 72.19, a price-to-earnings-growth ratio of 3.11 and a beta of 1.63. The company has a 50 day moving average price of $91.14 and a 200 day moving average price of $109.85. The Trade Desk, Inc. has a 52 week low of $53.39 and a 52 week high of $141.53.

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 return on equity of 16.38% and a net margin of 16.08%. On average, equities research analysts anticipate that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $564.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Samantha Jacobson sold 4,298 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total value of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This represents a 4.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction on 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 directly owns 704,229 shares in the company, 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. In the last quarter, insiders have sold 41,029 shares of company stock valued at $5,004,296. Insiders own 9.72% of the company’s stock.

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.