TIAA Trust National Association Grows Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

TIAA Trust National Association lifted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 892.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,902 shares of the technology company’s stock after buying an additional 20,594 shares during the period. TIAA Trust National Association’s holdings in Trade Desk were worth $2,692,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Trade Desk in the fourth quarter worth about $231,570,000. National Pension Service grew its position in Trade Desk by 104.1% during the 4th quarter. National Pension Service now owns 1,264,985 shares of the technology company’s stock worth $148,674,000 after purchasing an additional 645,240 shares during the last quarter. Wellington Management Group LLP increased its stake in Trade Desk by 55.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,549,399 shares of the technology company’s stock valued at $169,892,000 after purchasing an additional 551,925 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Trade Desk by 1,809.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 444,616 shares of the technology company’s stock worth $48,752,000 after buying an additional 421,333 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Trade Desk by 326.1% during the third quarter. Franklin Resources Inc. now owns 509,495 shares of the technology company’s stock worth $60,105,000 after buying an additional 389,917 shares during the period. Institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JMP Securities reduced their target price on 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. Wedbush upped their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Citigroup reduced their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada dropped their price objective on shares of Trade Desk from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, March 17th. Finally, Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Trade Desk currently has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Trade Desk Stock Performance

NASDAQ TTD opened at $58.80 on Thursday. The business has a fifty day moving average price of $87.66 and a 200 day moving average price of $108.97. The company has a market cap of $29.17 billion, a P/E ratio of 75.38, a P/E/G ratio of 3.11 and a beta of 1.63. The Trade Desk, Inc. has a one year low of $53.39 and a one year high of $141.53.

Trade Desk (NASDAQ:TTD) last issued 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 net margin of 16.08% and a return on equity of 16.38%. As a group, sell-side analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current fiscal year.

Trade Desk announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Trade Desk

In related news, CEO Jeffrey Terry Green sold 18,207 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $125.44, for a total value of $2,283,886.08. Following the completion of the sale, the chief executive officer now owns 704,229 shares of the company’s stock, valued at approximately $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Samantha Jacobson sold 4,298 shares of the firm’s 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 approximately $10,754,459.04. The trade was a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,029 shares of company stock worth $5,004,296 in the last ninety days. 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.