National Bank of Canada FI Has $8.22 Million Position in The Trade Desk, Inc. (NASDAQ:TTD)

National Bank of Canada FI cut its holdings in shares of The Trade Desk, Inc. (NASDAQ:TTD) by 25.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,948 shares of the technology company’s stock after selling 23,751 shares during the period. National Bank of Canada FI’s holdings in Trade Desk were worth $8,221,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TTD. Vanguard Group Inc. raised its stake in shares of Trade Desk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 42,670,254 shares of the technology company’s stock valued at $5,015,035,000 after acquiring an additional 253,137 shares during the last quarter. Norges Bank bought a new position in Trade Desk during the 4th quarter worth $524,187,000. Bank of New York Mellon Corp lifted its holdings in Trade Desk by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,019,707 shares of the technology company’s stock worth $237,376,000 after buying an additional 5,080 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Trade Desk in the fourth quarter valued at about $231,570,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Trade Desk by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,875,139 shares of the technology company’s stock worth $220,385,000 after acquiring an additional 95,489 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Trade Desk Stock Performance

TTD stock opened at $46.24 on Friday. The Trade Desk, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $141.53. The stock has a fifty day moving average of $78.11 and a 200-day moving average of $106.55. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 59.28, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last issued its earnings results 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 return on equity of 16.38% and a net margin of 16.08%. Equities analysts predict that The Trade Desk, Inc. will post 1.06 EPS for the current year.

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

Insider Buying and Selling

In related news, insider Samantha Jacobson sold 4,298 shares of the 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. This represents a 4.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk 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 transaction, the chief executive officer now directly owns 704,229 shares of the company’s stock, valued at $88,338,485.76. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. 9.72% of the stock is owned by insiders.

Analysts Set New Price Targets

TTD has been the subject of several analyst reports. Evercore ISI lowered shares of Trade Desk from an “outperform” rating to an “inline” rating and lowered their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Jefferies Financial Group decreased their price target on Trade Desk from $120.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday. Cfra Research upgraded Trade Desk to a “moderate buy” rating in a research report on Tuesday, March 25th. Robert W. Baird lowered 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. Finally, UBS Group raised their price objective on shares of Trade Desk from $116.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Trade Desk presently has a consensus rating of “Moderate Buy” and an average price target 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.