Wells Fargo & Company MN Reduces Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Wells Fargo & Company MN lessened its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,546,444 shares of the technology company’s stock after selling 155,170 shares during the period. Wells Fargo & Company MN owned 0.31% of Trade Desk worth $181,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new stake in Trade Desk during the fourth quarter worth $26,000. Harbor Investment Advisory LLC increased its position in shares of Trade Desk by 68.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Trade Desk in the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC acquired a new position in Trade Desk in the fourth quarter valued at about $34,000. Finally, Zions Bancorporation N.A. boosted its stake in Trade Desk by 148.3% during the fourth quarter. Zions Bancorporation N.A. now owns 293 shares of the technology company’s stock worth $34,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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. Loop Capital cut their price objective on Trade Desk from $145.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird decreased their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Finally, Oppenheimer decreased their price objective on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Six investment 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.38.

Trade Desk Trading Down 5.8 %

Shares of TTD stock opened at $46.24 on Friday. The Trade Desk, Inc. has a twelve month low of $45.02 and a twelve month high of $141.53. The business’s 50 day moving average is $78.11 and its two-hundred day moving average is $106.55. The company has a market capitalization of $22.94 billion, a P/E ratio of 59.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share 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%. As a group, equities analysts predict that The Trade Desk, Inc. will post 1.06 earnings per share for the current fiscal year.

Trade Desk declared that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $564.00 million in shares. This buyback authorization allows the technology company to purchase up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In other news, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 approximately $10,754,459.04. This trade 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 business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total value of $2,283,886.08. Following 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 position. The disclosure for this sale can be found here. 9.72% of the stock is 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.