Legal & General Group Plc Has $238.57 Million Stake in The Trade Desk, Inc. (NASDAQ:TTD)

Legal & General Group Plc lowered its stake in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 18.8% in the fourth quarter, Holdings Channel reports. The firm owned 2,029,867 shares of the technology company’s stock after selling 469,556 shares during the period. Legal & General Group Plc’s holdings in Trade Desk were worth $238,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TTD. Focus Financial Network Inc. increased its stake in shares of Trade Desk by 2.2% in the fourth quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock worth $456,000 after purchasing an additional 84 shares during the period. RMR Wealth Builders lifted its holdings in shares of Trade Desk by 0.8% during the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after buying an additional 89 shares during the last quarter. Quotient Wealth Partners LLC boosted its position in shares of Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after acquiring an additional 94 shares during the period. TFB Advisors LLC grew its stake in shares of Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after acquiring an additional 94 shares during the last quarter. Finally, Centurion Wealth Management LLC increased its position in Trade Desk by 2.6% during the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Trade Desk Trading Down 2.3 %

Trade Desk stock opened at $45.27 on Wednesday. The Trade Desk, Inc. has a 1 year low of $42.96 and a 1 year high of $141.53. The company’s 50-day moving average is $73.60 and its two-hundred day moving average is $105.22. The company has a market cap of $22.46 billion, a PE ratio of 58.04, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last released its earnings results on Wednesday, February 12th. The technology company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. Research analysts forecast that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Activity at Trade Desk

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction on 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 approximately $10,754,459.04. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TTD has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $145.00 price target on shares of Trade Desk in a research report on Thursday, March 13th. Evercore ISI cut Trade Desk from an “outperform” rating to an “inline” rating and cut their price target for the company from $135.00 to $90.00 in a report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on Trade Desk from $120.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Robert W. Baird cut their target price on Trade Desk from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, KeyCorp decreased their price target on shares of Trade Desk from $130.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Trade Desk presently has an average rating of “Moderate Buy” and an average target price of $114.38.

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.