PNC Financial Services Group Inc. Sells 349 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

PNC Financial Services Group Inc. lessened its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Trade Desk by 8.3% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,744 shares of the technology company’s stock worth $226,000 after acquiring an additional 133 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in Trade Desk by 7.0% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 38,715 shares of the technology company’s stock worth $4,550,000 after acquiring an additional 2,533 shares during the last quarter. Andra AP fonden bought a new position in Trade Desk during the 4th quarter worth approximately $693,000. Ashton Thomas Private Wealth LLC boosted its stake in Trade Desk by 112.0% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 14,816 shares of the technology company’s stock worth $1,741,000 after acquiring an additional 7,828 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in Trade Desk during the 4th quarter worth approximately $812,000. Institutional investors own 67.77% of the company’s stock.

Trade Desk Stock Performance

Shares of Trade Desk stock opened at $58.84 on Wednesday. The firm has a 50-day moving average of $102.74 and a 200-day moving average of $112.90. The stock has a market cap of $29.19 billion, a PE ratio of 75.44, a PEG ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a 52-week low of $58.57 and a 52-week high of $141.53.

Trade Desk (NASDAQ:TTD) last announced its earnings results 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%. Equities research 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 approved a stock 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 reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTD. Royal Bank of Canada dropped their target price on shares of Trade Desk from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. JMP Securities dropped their target price on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of Trade Desk from $142.00 to $101.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Scotiabank lowered their price objective on shares of Trade Desk from $133.00 to $83.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. Finally, Oppenheimer lowered their price objective on shares of Trade Desk from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. 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 stock. According to data from MarketBeat, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target of $119.45.

Insider Buying and Selling

In other Trade Desk news, CEO Jeffrey Terry Green sold 18,207 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $125.44, for a total transaction of $2,283,886.08. Following the completion of the transaction, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jay R. Grant sold 18,524 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $119.35, for a total value of $2,210,839.40. Following the transaction, the insider now directly owns 169,464 shares of the company’s stock, valued at approximately $20,225,528.40. The trade was a 9.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,029 shares of company stock valued at $5,004,296 over the last quarter. 9.72% of the stock is owned by company insiders.

Trade Desk 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.