Allspring Global Investments Holdings LLC Has $61.18 Million Stock Holdings in The Trade Desk, Inc. (NASDAQ:TTD)

Allspring Global Investments Holdings LLC cut its holdings in The Trade Desk, Inc. (NASDAQ:TTD) by 17.6% in the fourth quarter, HoldingsChannel reports. The firm owned 519,639 shares of the technology company’s stock after selling 110,914 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trade Desk were worth $61,176,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Focus Financial Network Inc. boosted its holdings in 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 in the last quarter. CAP Partners LLC boosted its holdings in Trade Desk by 1.4% in the third quarter. CAP Partners LLC now owns 6,403 shares of the technology company’s stock worth $702,000 after purchasing an additional 86 shares in the last quarter. RMR Wealth Builders boosted its holdings in Trade Desk by 0.8% in the fourth quarter. RMR Wealth Builders now owns 10,613 shares of the technology company’s stock worth $1,247,000 after purchasing an additional 89 shares in the last quarter. Quotient Wealth Partners LLC boosted its holdings in Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock worth $276,000 after purchasing an additional 94 shares in the last quarter. Finally, TFB Advisors LLC boosted its holdings in 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 purchasing an additional 94 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

Trade Desk Stock Down 33.0 %

NASDAQ:TTD opened at $81.92 on Friday. The Trade Desk, Inc. has a 12-month low of $72.21 and a 12-month high of $141.53. The firm has a market capitalization of $40.43 billion, a PE ratio of 134.30, a price-to-earnings-growth ratio of 3.63 and a beta of 1.45. The firm has a 50-day moving average price of $122.11 and a 200 day moving average price of $115.31.

Trade Desk (NASDAQ:TTD) last posted its quarterly earnings data on Wednesday, February 12th. The technology company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.21). Trade Desk had a return on equity of 13.17% and a net margin of 13.34%. On average, research analysts expect that The Trade Desk, Inc. will post 0.87 EPS for the current year.

Trade Desk declared that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $564.00 million in shares. This repurchase authorization authorizes the technology company to buy 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 Activity

In other news, CEO Jeffrey Terry Green sold 18,207 shares of Trade Desk stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 704,229 shares in the company, valued at approximately $88,338,485.76. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samantha Jacobson sold 4,298 shares of Trade Desk stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $118.56, for a total transaction of $509,570.88. Following the completion of the transaction, the insider now owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,029 shares of company stock worth $5,004,296. Insiders own 9.72% of the company’s stock.

Wall Street Analysts Forecast Growth

TTD has been the subject of a number of recent research reports. Wedbush upped their price objective on shares of Trade Desk from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. KeyCorp upped their price target on shares of Trade Desk from $140.00 to $142.00 and gave the company an “overweight” rating in a report on Monday. DA Davidson decreased their price target on shares of Trade Desk from $134.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Citizens Jmp upgraded shares of Trade Desk to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, JMP Securities decreased their price target on shares of Trade Desk from $150.00 to $115.00 and set a “market outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

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.