Fifth Third Bancorp Buys 14,635 Shares of The Trade Desk, Inc. (NASDAQ:TTD)

Fifth Third Bancorp boosted its position in The Trade Desk, Inc. (NASDAQ:TTD) by 86.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,534 shares of the technology company’s stock after purchasing an additional 14,635 shares during the quarter. Fifth Third Bancorp’s holdings in Trade Desk were worth $3,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its stake in shares of Trade Desk by 68.8% in 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 period. Exchange Traded Concepts LLC purchased a new position in shares of Trade Desk during the 4th quarter worth $35,000. Avior Wealth Management LLC grew its position in shares of Trade Desk by 37.7% during the 3rd quarter. Avior Wealth Management LLC now owns 365 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. Quarry LP purchased a new stake in shares of Trade Desk in the 2nd quarter worth $41,000. Finally, Brown Lisle Cummings Inc. raised its holdings in Trade Desk by 66.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 375 shares of the technology company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Institutional investors own 67.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Jay R. Grant sold 18,524 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 169,464 shares of the company’s stock, valued at $20,225,528.40. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 704,229 shares in the company, valued at $88,338,485.76. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 549,684 shares of company stock worth $68,444,576 in the last three months. 9.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on TTD. Oppenheimer upped their price target on Trade Desk from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial raised their target price on shares of Trade Desk from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Citigroup increased their price objective on shares of Trade Desk from $115.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DA Davidson lifted their target price on shares of Trade Desk from $108.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets increased their price target on Trade Desk from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Trade Desk currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.13.

Trade Desk Stock Down 0.7 %

TTD opened at $119.10 on Tuesday. The stock’s fifty day moving average is $125.87 and its two-hundred day moving average is $113.80. The company has a market capitalization of $58.78 billion, a P/E ratio of 195.25, a PEG ratio of 3.82 and a beta of 1.45. The Trade Desk, Inc. has a 52 week low of $66.56 and a 52 week high of $141.53.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.21). The business had revenue of $628.02 million for the quarter, compared to the consensus estimate of $619.89 million. Trade Desk had a net margin of 13.34% and a return on equity of 13.17%. During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities analysts anticipate that The Trade Desk, Inc. will post 0.87 earnings per share for the current year.

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.